Noun: comparative advantage
- (economics) the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than others, even if it lacks an absolute advantage
"Despite higher labour costs, the firm maintained a comparative advantage due to superior technology"
- (business) a strategic benefit that allows an organization to compete more effectively in the marketplace
"The company's strong brand recognition gave it a comparative advantage over new entrants in the market"
Derived forms: comparative advantages
Encyclopedia: Comparative advantage