Examples of relative dating and absolute dating

A person has a comparative advantage at producing something if he can produce it at lower cost than anyone else.Having a comparative advantage is not the same as being the best at something. Someone who is the best at doing something is said to have an absolute advantage.

The thing is, as with many other masculine insecurities, this is predominantly in our heads. Worse, I’m the shortest of all my friends who range from 5’1o” on the short side, to 6’7″ on the tall side.

Newton included in the "Principia Mathematica" a scholium, or an appendix of explanatory notes, and in it he defined several important principles, including the idea of absolute time.

Although he understood that clocks weren't perfect and measuring time was subject to human error, Newton believed in an absolute time that was similar to a universal, omnipotent God-like time, one that was the same for everyone, everywhere.

Someone may have an absolute advantage at producing every single thing, but he has a comparative advantage at many fewer things, and probably only one or two things.

(In Jordan's case, both basketball and also as an endorser of Nike.) Amazingly, everyone always has a comparative advantage at something. Suppose you and your roommate want to clean the house and cook a magnificent Chicken Kiev dinner for your friends one night.