What is the principle of comparative cost advantage

Comparative cost advantages is characterized by an economy's ability to produce goods and services at a lower opportunity cost than that of its competitors.

Explanation:

Basically, a person has a comparative advantage if they can produce an item at a lower cost than their competitors. Thus, if a country has the means and resources to produce a certain product for cheaper, then they have a comparative advantage.

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explanation:

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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