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comparative advantage

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comparative advantage

Economic theory first advanced by Robert Torrens and David Ricardo that analyzes international trade in terms of differences in relative opportunity costs. The theory suggests that countries should specialize in the goods they can produce most efficiently rather than trying for self-sufficiency and argues strongly in favour of free international trade.



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The undersecretary said that DED as a local authority involved in the issuance, control and supervision of licences in the emirate of Abu Dhabi, wanted to attract foreign investment as well as domestic investment to tap its comparative advantages.
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