Specializing in one's comparative advantage and trading with others will make individuals better off but may not make countries better off.
False
True
False
The principle of comparative advantage suggests that when individuals or countries specialize in the production of goods and services in which they have a lower opportunity cost, and then trade with others, they can both benefit from increased efficiency and higher overall output. This specialization and trade can lead to a more efficient allocation of resources, ultimately making both individuals and countries better off.