The ability to produce a good at a lower opportunity cost than others is known as

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Comparative advantage is the ability to produce a good at a lower opportunity cost. This means that even if one country or individual can produce a good more efficiently (with lower absolute cost), it may still make sense for them to specialize in producing something else where they have a comparative advantage (lower opportunity cost). By specializing in producing what they have a comparative advantage in and trading with others, everyone can enjoy the benefits of increased efficiency and productivity.

The Ability to Produce a Good at a Lower Opportunity