A comparative advantage exists when a country can produce something more cost effectively and/or of higher quality than any other country.

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This is the definition of comparative advantage, which is a key concept in international trade theory. When a country has a comparative advantage in a particular product, it means that it can produce that product at a lower opportunity cost than any other country. This allows the country to specialize in producing and exporting that product, while importing other goods or services that it cannot produce as efficiently.

A Comparative Advantage Exists When a Country Can Produce Something