Deprecated function: Optional parameter $path declared before required parameter $arg is implicitly treated as a required parameter in include_once() (line 1439 of /var/www/quickstart.cals.arizona.edu/includes/bootstrap.inc).
Absolute Advantage
The ability of a party to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.
What generates comparative advantage? We look briefly at geography, factor proportions, increasing returns to scale and institutions such as labor market flexibility.
What generates comparative advantage? We look briefly at geography, factor proportions, increasing returns to scale and institutions such as labor market flexibility.