Which economic term refers to the situation where one country can manufacture and export automobiles at a lower cost than its competitors? a. opportunity cost b. comparative advantage c. inflation d. consumer price index (cpi) e. gross domestic product (gdp)

The correct answer is B.

Comparative advantage is an economic term that refers to the process of producing goods and services at a lower cost than the competition.

A comparative advantage gives a company the ability to sell goods and services at a lower price than its competitors and thus obtain stronger sales margins.

Comparative advantage suggests that countries would trade with each other, exporting the goods that they have a relative advantage in productivity.

This term is attributed to the English economist David Ricardo in 1817.

could you use this to with a topic?

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