Comparative advantage in economics showcases how individuals can benefit by specializing in tasks they are more efficient at, such as Chloe writing and Ann drawing.
Comparative advantage refers to when one party can produce a good or service at a lower opportunity cost than another party. In the case of Chloe and Ann, Chloe has a comparative advantage in writing while Ann has a comparative advantage in drawing. By focusing on their respective strengths, they can maximize their productivity and efficiency.
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