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Business, 18.03.2021 23:10 annabelle2516

Comparative advantage differs from absolute advantage in that the former , whereas the latter . holds that countries should specialize their production; does not bases trade on natural advantages; bases trade on acquired advantage states that there is a basis of trade even if one country can produce everything more efficiently than another country; does not deal with this issue holds that trade should be kept as nearly in balance as possible; says countries should seek a favorable balance of trade

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