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a country that makes the good it produuces
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What statement illustrates the law of comparative advantage?
a country that makes the good it produuces
What term applies to this situation having a mechanic rather than dentist work on your automobile?
law of comparative advantage
The western southern and northern sections of the US just before the Civil War would be examples of?
The law of comparative advantage
What is an example that illustrates the difference between comparative advantage and absolute advantage in international trade?
An example that illustrates the difference between comparative advantage and absolute advantage in international trade is the scenario where Country A can produce both cars and computers more efficiently than Country B. However, Country A has a comparative advantage in producing cars, while Country B has a comparative advantage in producing computers. This means that even though Country A has an absolute advantage in both products, it is more beneficial for both countries to specialize in the product they can produce most efficiently and trade with each other.
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.
Ano ang law of comparative advantages?
YEAH. For the Win
The law of comparative advantage was developed by who?
David Ricardo is credited with being the person who developed the law of comparative advantage. He first mentioned it in his book "On the Principles of Political Economy and Taxation" in 1817.
Having a carpenter rather than a doctor shingle your house is an example of what?
the law of comparative advantage
Having a carpenter rather than a doctor shingle your house is and example of which of these?
The law of comparative advantage.
Having a mechanic rather than a dentist work on your automobile?
law of comparative advantage(kaylop)
Has any company ever get comparative advantage in all good?
comparative advantage
Which term applies to this situation You ask a straight A math student rather than a D math student for help with your homework?
Law of Comparative AdvantageLaw of Comparative advantage
