Answer:
1. comparative advantage
2. balance of payments
Explanation:
The comparative advantage is when a country is able to produce goods at a lower opportunity cost than another country. So, a nation's ability to produce a product more efficiently than another country is referred to as comparative advantage.
The balance of payments is a record in which all the financial transactions between a country and all the other nations in a specific period of time are registered. According to this, the difference between money paid to, and received from, other nations in trade is the balance of payments.
