All countries have a comparative advantage in some products.

Question

Quizplus · Accepted Answer

The theory of comparative advantage states that all countries can benefit from trade because each country has a comparative advantage in producing certain goods or services. This means that a country may be able to produce a particular product more efficiently or at a lower cost than other countries, allowing them to specialize in that product and trade with other countries for goods and services that they cannot produce as efficiently.

All Countries Have a Comparative Advantage in Some Products