Comparative advantage, absolute advantage, specialization, and trade Macroeconomics Basic Economic Concepts Comparative advantage, absolute advantage, specialization, and trade Questions What is comparative advantage? How does comparative advantage apply in international trade? How does comparative advantage affect a nations trade? How can trade bring countries together? How comparative advantage work? Basic Economic Concepts View all chapters Macroeconomics vs. Microeconomics Scarcity, choice, and opportunity costs Comparative advantage, absolute advantage, specialization, and trade Demand, supply, and market equilibrium Macroeconomic issues: business cycle, unemployment, inflation, growth Prev Next