A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Hi. I'm Jackie Jackson, and I'm going to talk to you about comparative advantage and economies of scale. Now these are two items that a company will examine when they're determining whether or not ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

David Ricardo, who lived in the late 18 th and early 19 th century in Great Britain, and who was one of the most influential classical economists, coined the term comparative advantage in 1817. He had ...

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...