Explain the firms trade and migration policy

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Comparative advantage is often considered the bedrock of economic preference theories. Define comparative advantage in detail, including a detailed description of the factors of production and what it means to be abundant in one and scarce in another. Then, discuss what comparative advantage suggests firms' trade and migration policy preferences should be based on the following:

a. Labor abundant countries

i) Firms making capital-intensive goods

ii) Firms making labor-intensive goods

b. Capital-abundant countries

i) Firms making capital-intensive goods

ii) Firms making labor-intensive goods

Reference no: EM133034065

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