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  3. comparative advantage differs from absolute advant

Comparative advantage differs from absolute advantage in thatComparative advantage considers opportunity cost, while absoluteadvantage does...

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Economics

Comparative advantage differs from absolute advantage in thatComparative advantage considers opportunity cost, while absoluteadvantage does not. Absolute advantage considers opportunity cost,while comparative advantage does not. They are essentially the samething but 'comparative' is the modern term while 'absolute' wasused in the 18th century. Absolute attvantage is for problemsinwolving cranberry juice, while comparative advantage refers towine tasting.

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