Modern international trade is based on the principle of
Modern international trade is based on the principle of
Absolute cost advantage
Comparative advantage
Terms of trade
Balance of trade
Correct answer is B
Comparative advantage is an economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners. A comparative advantage gives a company the ability to sell goods and services at a lower price than its competitors and realize stronger sales margins.
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