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 ...

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 ...

David Ricardo, a Scottish economist, made a perceptive observation that a few individuals, firms, or countries can gain from trading, even if one of them is objectively the best in all activities.

Adao, Rodrigo, Arnaud Costinot, and Dave Donaldson. 2017. "Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade.” American Economic Review 107(3): 633–89. Aldrich, ...

Through the country's 'Make in India' policy, which aims to promote domestic entrepreneurship and attract foreign investment into high-tech export industries, India's focus on self-reliance has ...

Forbes contributors publish independent expert analyses and insights. Sarah Williamson covers capital markets and long-term strategies. In a competitive marketplace, businesses need to know their ...