comparative advantage — the ability of an individual or group to carry out a particular economic activity more efficiently than another activity
Part of speech: NOUN
Definition: the ability of an individual or group to carry out a particular economic activity more efficiently than another activity
Pronunciation (IPA): /kəmˈpærətɪv ədˈvæntɪdʒ/
Korean meaning: 다른 경제활동보다 특정 경제활동을 더 효율적으로 수행할 수 있는 능력, 비교우위
Korean pronunciation: 컴**페**러티브 어**드밴**티지
Example Sentences
- Even though I'm terrible at both cooking and cleaning, I have a comparative advantage in cooking because I only burn the food half the time.
- Japan's comparative advantage in automobile manufacturing helped it become a global leader in the industry.
- My comparative advantage in procrastination is so strong that I could write a book about it... tomorrow.
comparative advantage
NOUN//kəmˈpærətɪv ədˈvæntɪdʒ//
the ability of an individual or group to carry out a particular economic activity more efficiently than another activity
the ability of an individual or group to carry out a particular economic activity more efficiently than another activity
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Turn every disadvantage into comparative advantage!
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Start for Free🎤Pronunciation
🌳Etymology
Origin
19세기 경제학자 데이비드 리카도가 제시한 경제학 개념으로, 'comparative(비교하는)'와 'advantage(우위, 이점)'가 결합되어 탄생했습니다.
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Start for Free🎵Rhyme
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Start for Free📝Examples
“Even though I'm terrible at both cooking and cleaning, I have a comparative advantage in cooking because I only burn the food half the time.”
“Japan's comparative advantage in automobile manufacturing helped it become a global leader in the industry.”
“My comparative advantage in procrastination is so strong that I could write a book about it... tomorrow.”
“Countries should focus on industries where they have comparative advantage to maximize economic efficiency.”
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