TERMIUM Plus®

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law of comparative advantage [1 record]

Record 1 2011-08-25

English

Subject field(s)
  • Laws of the Market (Economy)
  • National and International Economics
  • Foreign Trade
CONT

Law of comparative advantage. Given the freedom to respond to market forces, countries will tend to export goods for which they have comparative advantage and import goods for which they have comparative disadvantage, and that they will experience gains from trade by doing so.

OBS

The law of comparative advantage not only predicts the geographical pattern of specialization and direction of trade; it also demonstrates that both countries are made better off and that the real wages ... are improved by trade and the resulting enlarged totals of world production.

French

Domaine(s)
  • Lois du marché (Économie)
  • Économie nationale et internationale
  • Commerce extérieur
DEF

[Loi qui établi que,] quand un pays dispose de plusieurs avantages absolus, il doit se spécialiser là où son avantage est comparativement le plus grand, et quand un pays ne dispose d'aucun avantage absolu, il doit se spécialiser là ou son désavantage est comparativement le plus petit.

Spanish

Campo(s) temático(s)
  • Leyes del mercado (Economía)
  • Economía nacional e internacional
  • Comercio exterior
DEF

Ley [que] establece que un país debe especializarse en la producción y la exportación de las mercancías que puede producir con un costo relativamente más bajo y debe importar aquellas otras en las que es un productor de costos relativamente elevados.

OBS

Así pues, no es la ventaja absoluta sino la ventaja comparativa la que debe dictar y decidir los patrones de comercio.

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