The theory of comparative advantage implies that alpha would find it advantageous to export grain and import steel
Comparative advantage is the ability of an economy to produce a particular good or service at a lower opportunity cost than its trading counterparts.
Comparative advantage is used to explain why companies, countries or individuals can profit from trade.
When used to describe international trade, comparative advantage refers to products that one country can produce more cheaply or more easily than other countries.
Although this generally illustrates the benefits of trade, some contemporary economists now recognize that focusing solely on comparative advantage can lead to the exploitation and depletion of resources. country.
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