Comparative Advantage
Not what you're looking for?
Define the concept of comparative advantage. How can a country gain or lose its comparative advantage in the production of a good?
Purchase this Solution
Solution Preview
Comparative advantage refers to being able to produce goods at a lesser cost than most other nations or entities. This leads to trade with other countries that have an advantage of producing other goods that are not available to be produced cheaply in the home ...
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.