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∙ 12y ago
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What is South Koreas Ecconomy?
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Has any company ever get comparative advantage in all good?
comparative advantage
Can you give me a sentence with the word comparative advantage?
i have a comparative advantage in sports when i play with the other girls
Define comparative advantage?
When a company or an individual makes a product or carry out a certain economic activity better than its competitors is called comparative advantage. A comparative advantage gives the company an advantage to make higher profits.
The US military was involved in Korea?
yes the united states was on south koreas side and the soviet union was on north koreas side
What is the ability of an entity to produce a good at an opportunity cost that is lower than that of another producer?
Comparative advantage :)
Who is South Koreas football captain?
Chu-young park
Who is South Koreas football manager?
Hu-Yang-Chang
How many Koreas are there?
There is 2 North Korea and South Korea
What is the abbreviation for North Koreas neighbor?
For South Korea : KR
What is the year of south Koreas independence?
south korea became an independent country in 1953
Examples of absolute and comparative advantage?
Absolute advantage: Vietnam can produce 1000 million tons of rice while South Korea can produce 800 million tons of rice => Vietnam has absolute advantage (since it can produce more than Korea) Comparative advantage: Same example: Vietnam and Korea. To produce 1 more tonnes of rice, Vietnam has to give up producing 3 cars. However, to produce 1 more tonnes of rice, South Korea only have to give up producing 1 cars. => There is a lower opportuniy cost for Korea to produce rice. i.e. South Korea has the comparative advantage.
