If two persons are trading in two different categories, he would get best output from one and a little less from the other, this process is known as: a. Comparative advantage b. Gains from trade c. Specialization d. Comparative disadvantage

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
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Chapter3: Interdependence And The Gains From Trade
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22. If two persons are trading in two different categories, he would get best output from one and a little less from the other, this process is known as:

a.

Comparative advantage

b.

Gains from trade

c.

Specialization

d.

Comparative disadvantage

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