For example, agribusinesses in Florida grow oranges while those in Iowa grow corn. Struggling to produce a product in an unsuitable environment would place a company behind the competition.

However, if each country devoted all 1,200 workers to its comparative advantage, Portugal would produce 120,000 gallons of wine and England 108,000 yards of cloth.

Hi. I'm Jackie Jackson, and I'm going to talk to you about comparative advantage and economies of scale. Now these are two items that a company will examine when they're determining whether or not ...

David Ricardo's concept of comparative advantage is an important premise in international trade theory because it explains how and why countries trade, even when one country can produce all things ...

Specialization isn't merely about cost but also about expertise built through years of labor training and industrial ...

That is comparative advantage in a (coco)nutshell: If everyone pursues their own area of specialization, we are all better off. The same is true of countries.

There are other errors though. For example, logistics--this is simply the claim that transport is cheaper these days. Quite why this should mean that comparative advantage no longer exists is a ...

What specific example does Moore provide to explain the law of comparative advantage?

A better, more enriching deal in terms of trade would be hard to fathom. Where oil is considered, the simple wonders of comparative advantage have seemingly been ignored of late.

In The Wall Street Journal, Ben Wattenberg writes that immigrants help vitalize the American economy and maintain our traditions of hard work and patriotism.

Even though the company with a higher credit rating could get lower terms in both fixed and floating rate markets, it only has a comparative advantage in one of them. Suppose Company AA can borrow ...