Which of the following statements accurately describe the principles of comparative advantage and its implications for trade? Select all that apply.

Comparative advantage is the idea that a country or person can produce a good or service at a lower opportunity cost than others. This means that even if one country is better at making everything, it can still benefit from trade by focusing on what it does best and trading for what others produce more efficiently. For example, if Country A can make cars more efficiently and Country B can produce wheat more efficiently, both can gain by Country A making cars and Country B making wheat, then trading them. This principle encourages countries to specialize in what they are best at, leading to more efficient production and increased overall wealth. Therefore, the implications of comparative advantage show that trade can benefit all parties involved, allowing them to access a greater variety of goods at lower prices.