TERMIUM Plus®

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THEORY COMPARATIVE COST [1 record]

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Alphabetical list of terms

Record 1 2015-02-26

English

Subject field(s)
  • Economic Planning
DEF

The theory that even if one country has an absolute advantage in costs of producing all things, the world will still benefit if each country specialises in producing those goods in which it has the greatest relative cost advantage or least disadvantage. [Klein, Gerald. Dictionary of Banking. Pitman Publishing, 1995].

Key term(s)
  • doctrine of comparative cost

French

Domaine(s)
  • Planification économique
OBS

Note du traducteur. Peut-être les termes "avantages relatifs" ou "coûts relatifs" expriment-ils mieux le sens de ces concepts classiques.

Spanish

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