Saturday, May 20, 2006

The World’s Best Golfer : IIPM

The concept of comparative advantage is easily understood by considering Tiger Woods, the World’s best golfer. No one thinks it would make sense for Tiger Woods to work as a caddy, even though he could be the world’s best caddy – who could give you better advice on which club to use, the right way to grip the club, and how to line up a putt? His opportunity cost as a caddy would be the millions of dollars he would sacrifice as a golfer, which is the job in which he has a comparative advantage….

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Source :- IIPM Editorial, 2006

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