A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...

A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Erika Rasure is globally-recognized as a ...

Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome.

This article is part of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance. For the best part of two centuries, the ...