Question

Write a summary on Trade in Saudi Arabia.
Summary must include: trade absolute and comparative advantage in Saudi Arabia exports and imports.
What are the major trading partners for production of goods and what goods SA is good at producing and what goods they're not.
Advantages and disadvantages of SA just producing what they're good at.

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The difference between the absolute cost advantage and comparative cost advantage lies in the opportunity cost of producing a good. Absolute cost advantage implies that countries can produce can produce a good with lesser resources or lower costs of production while comparative advantage of producing a good means that countries have a lower opportunity cost of producing that good than anything else it could have done with that resources....

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