Comparative advantage
Gaining Through Comparative Advantage - recording transcript (1/16/2012)
Partial or complete specialization according to comparative advantage is a win-win strategy to increase total output, even though one party might enjoy absolute advantage over another party.
Gaining from Comparative Advantage (8/9/2011)
Production through partial or complete specialization can increase total output and with trade total consumption can also be increased
Healthcare Tourism (3/7/2007)
Lower-pay certified doctors, duly accredited facilities, and 5-star facilities have contributed to the comparative advantage of overseas hospitals in non-emergency big-budget surgeries for international patients.
Niche Specialization (1/30/2007)
Niche comparative advantage in location proximity and fast response time could overcome the disadvantage of high wages in the garment industry.
No Chicken Feet! (1/3/2013)
Chicken feet, long considered a waste product in the US, have become a profit center for the high-volume low-profit US chicken industry in the China export market. But this export trade is not exempted from political whims.
Protest-free Drug Testing (2/27/2007)
China's low labor cost, abundant test animals, tax incentives, and permissive research environment have contributed to its comparative advantage in drug development.
The Case for Sweatshops (1/23/1999)
Sweatshops in low wage countries supplying goods to American companies may offer better paying jobs than other local firms.
Who Has Comparative Advantage? (11/2/2011)
Comparative advantage in a two-goods, two-workers economy can be identified easily by comparing the relative slopes of their linear production functions.
Who Has Comparative Advantage? - recording transcript (1/16/2012)
The different relative slopes of the production functions graphically illustrate the different relative costs of producing grapes and nuts between the two workers.