Comparative Advantage vs. Competitive Advantage
When a company is at a better position to provide strong value to the customer, it is said to be at a competitive advantage.
Example: A cable TV operator offers low cost wifi internet services at great speeds and no downtime, which isn’t offered by the competition in that area. The decades of experience in cable TV makes for a competitive advantage.
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Comparative Advantage Vs. Absolute Advantage
- Comparative advantage is only an advantage of a lower opportunity cost, and does not factor in volume or quality.
- Absolute advantage is the pure ability of a company to produce better goods or services (in quantity or quality) than...
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