Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Business Environment and International Business Socio-cultural factors and their influence on business Theories of international trade
Which of the following is correct about ‘comparative advantage’?
1
One firm having comparative edge on the other due to its specialities
2
The situation neutralizing the edge between two companies with the right kind of comparative measures.
3
Specializing in the production of things that individual/companies are relatively good at and trading with others who specialize in what they are relatively good at
4
None of above