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Advantages & Limitations of Law of Comparative Cost Advantage
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Topic Content:
- Advantages of Comparative Cost Advantage
- Limitations of Comparative Cost Theory
Advantages of Comparative Cost Advantage:
1. It leads to an increase in the world’s production of goods.
2. It leads to a reduction in the prices of goods and services due to mass production.
3. There is an efficient utilization of resources.
4. Countries involved are able to earn more foreign exchange.
5. Countries involved are able
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