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Importance of factors that affect UK comparative advantage

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    Importance of factors that affect UK comparative advantage

    Can anyone help with some factors that affect it, how they do it in economics terms and how important they are?

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    Natural resources
    Level of education, types of skill strengths in the economy
    Time zone (often citied as a reason for London's advantageous position in the financial markets)
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    Comparative advantage is to do with opportunity cost. So it is worth noting the things that the UK is very bad at. This means the trade off for other output is minimal.


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Updated: September 24, 2011
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