Business Terms and Jargon Explained

What is Comparative Advantage

A country or region has a comparative advantage in the production of those goods and services in which its relative efficiency is greatest. Comparative advantage matters because a country or region can maximise its consumption of goods and services by concentrating its resources in the production of goods and services in which it has a comparative advantage, and trading its surplus production with those countries or regions which specialise in the production of goods and services in which they have a comparative advantage.

Crown Copyright. Material taken from HM-Treasury. Reproduced under the terms and conditions of the Click-Use Licence.

<- Go Back
Business Terms Home page

Search Jargon and Terms Database

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z

Search Term   

Outside The Scope Ouguiya Karat
Subscription Right Inter alia Amnesty
Prime costs Rural Payments Agency Headhunter
Order Optimisation Euromarkets Bells and whistles
Vicarious Liability Competition analysis Continental Shelf
T-account Tugrik Estimation Procedure
CPEI Make waves Compensation funds
Magic bullet Working Capital NAS
Ex-Works Associated company Company Director service agreement
Moonlighting Blue Sky Thinking Incentive
learning curve Passing off Accounting Rate of Return
Kaizen Close company Open court
N316 Civil Court form Qualifying share LIBO

Term created / updated 2007-03-20 22:40:26

Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.

Copyright © 2004-2021 Scopulus Limited. All rights reserved.