Copyright © Philip M. Parker, INSEAD. Terms of Use.
| Domain | Definition |
Agriculture | Refers to the economic theory that in international trade it is more advantageous for a country to devote its resources not to all lines of production in which it may have superiority (least cost production), but to those in which its relative superiority is greatest. Two countries may find trade mutually profitable even if one of the countries could produce all goods at lower cost than the other. (references) |
Economics | The principle that, under given technological conditions, specialisation in a product or service by the nation or other regional area enjoying a comparative advantage over all others in its costs of production, and the exchange of such a product or service, will do more for the common good than regional self-sufficiency. Source: European Union. (references) |
Labor | When one nation's opportunity cost of producing an item is less than another nation's opportunity cost of producing that item. A good or service with which a nation has the largest absolute advantage (or smallest absolute disadvantage) is the item for which they have a comparative advantage. (references) |
Source: compiled by the editor from various references; see credits. | |
Crosswords: COMPARATIVE ADVANTAGE |
| Specialty definitions using "COMPARATIVE ADVANTAGE": comparative cost. (references) |
| Domain | Title |
Books | |
Source: compiled by the editor from various references; see credits. | |
| Subject | Topic | Quote |
Business | Recognizing this, the Government has instituted a number of policies to promote E&T as the means to make Vietnam's workforce a sustainable comparative advantage. (references) | |
U.S. imports are at a comparative advantage (in comparison to other foreign rivals, that is) in that AENA representatives consider American airport infrastructure "know-how" to be unrivaled worldwide. (references) | ||
Second, and related to the first point, exports of food products, an area in which Argentina has a strong comparative advantage, will continue to grow over the long term. The certification demands of foreign markets will force the Argentine processed food industry to implement more rigorous testing procedures. (references) | ||
Economic History | Kenya | This has presented Kenya with a real challenge in terms of losing its comparative advantage in some crop production. (references) |
Pakistan | These countries have comparative advantage in freight and can offer the commodity at lower prices compared to United States in this price sensitive market. (references) | |
Bangladesh | Bangladesh's comparative advantage in cheap labor for manufacturing is partially offset by low productivity, due to low skills, poor management, and inefficient infrastructure and machinery. (references) | |
Political Economy | Iceland | An abundance of inexpensive hydroelectric power provides a comparative advantage for aluminum smelting, the main manufacturing activity. (references) |
Trade | Vietnam | Bilateral government tied aid, commonly offered by the governments of our competitors, provide non-US companies with a comparative advantage that affects American trade performance in Vietnam. (references) |
Source: compiled by the editor from ICON Group International, Inc.; see credits. | ||
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Expression | Frequency per Day |
comparative advantage | 42 |
| Source: compiled by the editor from various references; see credits. | |
| Language | Translations for "COMPARATIVE ADVANTAGE"; alternative meanings/domain in parentheses. | ||||||||||||||||||||||
Danish | komparativ fordel (comparative cost). (various references) | ||||||||||||||||||||||
Finnish | suhteellinen etu (comparative cost), komparatiivinen etu (comparative cost). (various references) | ||||||||||||||||||||||
French | principe des avantages comparés (comparative cost), loi des avantages relatifs (comparative cost), loi des avantages comparés (comparative cost), avantages comparés (comparative cost). (various references) | ||||||||||||||||||||||
German | komparative Vorteile (comparative cost). (various references) | ||||||||||||||||||||||
Greek | Αρχή των συγκρινομένων πλεονεκτημάτων (comparative cost). (various references) | ||||||||||||||||||||||
Italian | costi comparativi (comparative cost), vantaggi comparativi (comparative cost). (various references) | ||||||||||||||||||||||
Japanese Kanji | 較優位論 (theory of comparative advantage), 較優位論 (theory of comparative advantage). (various references) | ||||||||||||||||||||||
Japanese Katakana | かくゆういろ" (theory of comparative advantage). (various references) | ||||||||||||||||||||||
Pig Latin | omparativecay advantageay custo relativo (comparative cost), custo comparativo (comparative cost), vantagem relativa (comparative cost), vantagem comparativa (comparative cost). (various references) ventaja comparativa (comparative cost). (various references) komparativ fördel (comparative cost). (various references) | ||||||||||||||||||||||
| 1. Crosswords 2. Usage: Commercial 3. Quotations: Non-fiction 4. Expressions: Internet | 5. Translations: Modern 6. Bibliography |
Copyright © Philip M. Parker, INSEAD. Terms of Use.
