My economics notes are a little bare. It’s related to international trade somehow though, right?
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Comparative advantage refers to one parties ability to produce goods or services at a lower opportunity cost than another. For example if party1 can produce either 1 alpha or 2 beta and party2 can produce either 1 alpha or 3 beta then party 1 has a comparative advantage in producing alphas (as the opportunity cost of producing each alpha is the loss of 2 beta compared to 3 for party2).
There is some useful information on comparative advantage at http://en.wikipedia.org/wiki/Comparative_advantage