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For ________________ one nation could be more efficient at both goods exchanged, but they should produce only the item that they are comparatively more efficient at producing (lower opportunity cost).

Respuesta :

The answer is comparative advantage.

Mostly in situation of comparative advantage, one company's opportunity cost (that is, the potential gain that has been foregone) is lower than that of another. This form of advantage is held by the firm with the lowest opportunity cost, and consequently the least potential gain lost.

Comparative advantage may also be defined as the best alternative given a trade-off. When comparing two choices, each of which has a trade-off (some benefits and some drawbacks), the one with the greatest overall package has the comparative advantage.

Therefore, the answer is comparative advantage.

To know more about comparative advantage click here:

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