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That a country has the best advantage of making all products, all things constant. It shows what a country would have if it didn't trade.
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What is the Assumption of absolute cost advantage?
what are the assumptions of the absolute advantage cost?
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
What is the modern theory of international trade?
The modern theory of international trade works on assumptions of the law of comparative advantage. The comparative advantage arises as a result of differences in the various regions.
Difference between absolute cost advantage theory and comparative cost advantage theory?
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
Compare the assumptions Theory X makes about workers with those of Theory Y How do these different assumptions influence management styles?
The assumption that Theory X and Theory Y about workers influences management styles. The assumptions of these two theories differ from employee motivation as well as satisfying employees' needs.
What is the Assumption of absolute cost advantage?
what are the assumptions of the absolute advantage cost?
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
What is the modern theory of international trade?
The modern theory of international trade works on assumptions of the law of comparative advantage. The comparative advantage arises as a result of differences in the various regions.
Difference between absolute cost advantage theory and comparative cost advantage theory?
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
What is the difference between theory of absolute advantage and a theory of comparative advantage?
Those theories both refer to international trade, however absolute advantage was mentioned earlier. According to it, a trade between 2 countries is possible only if one has absolute advantage (produces a good with less costs or with less time) and other has absolute disadvantage in producing that good but at the same time it must have an absolute advantage in producing the secong good. If a country produces a good better (cheaper/faster), it would specialize on it and export. Theory assumes that only 2 counties and 2 goods exist, no other costs except for labour are taken into account.
When is an ideal gas an imaginary gas?
When it conforms to all assumptions of kinetic theory
Compare the assumptions Theory X makes about workers with those of Theory Y How do these different assumptions influence management styles?
The assumption that Theory X and Theory Y about workers influences management styles. The assumptions of these two theories differ from employee motivation as well as satisfying employees' needs.
What are the assumptions underlying the monetary approach to the balance of payments?
1. the absolute Purchasing Power Parity (PPP) theory; 2. a vertical aggregate supply curve; 3. a stable demand for money.
What are the assumptions of multiplier theory of keynes?
closed economy
What are the basic assumptions of strength design theory?
asdasdasdasdasdasfas
What theory has some basic assumptions are human behavior is constitutionally or genetically determined?
gene theory
Theory of specialization?
comparative advantage theorie and absolute advantage theorie
