What is meant by absolute and comparative advantages

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What is meant by absolute advantages and comparative advantages? What are the differences between the two? Choose a country and then consider what that country produces where they would have an absolute advantage over the United States. Also consider what product the United States may have an absolute advantage in that would allow trade between these two countries. Do the same for comparative advantages. Please make responce 150 words minimum.

Reference no: EM13160584

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