International Business (WK2 DQ1).
I’m stuck on a Business question and need an explanation.
Week 2 – DQ1 – Competitive Advantage; Post by WEDNESDAY
What is meant by absolute advantages and comparative advantages? What are the differences between the two? Choose a country and then consider what that country produces where they would have an absolute advantage over the United States. Also consider what product the United States may have an absolute advantage in that would allow trade between these two countries. Do the same for comparative advantages. It would help if you select the country for which you are writing your country report to aid in this DQ so you can use the information in your country report.