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comparative advantage
(redirected from Economic advantage)

   Also found in: Financial, Wikipedia 0.01 sec.

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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What these enemies have failed to achieve in the past, the European Commission and the Court of Human Rights have succeeded in achieving with the acquiescence of weak and submissive governments whose sole preoccupation has been economic advantage.
Raising weight limits for these specially equipped vehicles has the economic advantage of increased fuel efficiency and the environmental benefit of reduced carbon emissions.
Flowing from one of the ESRC's seven key research challenges, under the single, unifying theme "Succeeding in the Global Economy", the research will consider how such economic advantage evolves over time, and how it influences growth, deprivation and wellbeing in the short and long term.
 
 
 
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