միանշանակ առավելություն

միանշանակ առավելություն

This is the simplest yardstick of economic performance. If one person, firm or country can produce more of something with the same amount of effort and resources, they have an absolute advantage over other producers. Being the best at something does not mean that doing that thing is the best way to use your scarce economic resources. The question of what to specialize in--and how to maximize the benefits from international trade--is best decided according to comparative advantage. Both absolute and comparative advantage may change significantly over time.

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Part of Speech: noun
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Blossary:
Industry/Domain: Economy
Category: Economics
Company: The Economist
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Related terms

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A changing pattern of comparative advantage over time due to changes in factor endowments or technology.

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