When a country trades products it produces most efficiently and effectively to other countries and buys those it cannot produce as efficiently or effectively, it is called

Question

advantage.

Answer 1

When a country trades products it produces most efficiently and effectively to other countries and buys those it cannot produce as efficiently or effectively, it is called comparative advantage. This economic principle suggests that countries should specialize in the production of goods and services for which they have a lower opportunity cost, leading to more efficient use of resources and increased overall trade benefits.