Andrew Beattie was part of the original editorial team at Investopedia and has spent twenty years writing on a diverse range of financial topics including business, investing, personal finance, and ...

Robert C. Merton is the John and Natty McArthur University Professor at the Harvard Business School. He holds a B.S. in engineering mathematics from Columbia University (1966) and an M.S. in applied ...

Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome. Comparison advantage is ...

A comparative advantage means having the lowest cost of producing a product. Numerous factors contribute to comparative advantage. Having a comparative advantage allows a company to lower prices on ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Martin Richardson does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...