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When a country can produce an item cheaper better and faster than another country?
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What is comparative advantage and absolute advantage?
absolute advantage is when a country,company, indivdual or region can produce a good better and at a cheaper cost than any other competitor.
What might a southern governor do if he or she wanted business to move into his or her states?
There are any number of things: offer a tax incentive, offer the sale or use of state land, offer fewer government restrictions, or provide better infrastructure such as roads, bridges, and transportation. Anything that makes operation costs cheaper, or business activities easier, can prompt a company to relocate part or all of their operations to another state, or even another country.
What does the law of comparative advantage say?
The Law of Comparative Advantage holds that each country or region can value its production of Good A in the value of Good B that cannot be produced when the resources are used to produce Good A AND the difference in these values between nations can create a competitive advantage for each region in producing the least expensive good and trading for the more expensive one.For example, let's say that there is a country that could produce 1 computer or 10 banana milkshakes and another country that could produce 18 computers or 15 banana milkshakes. While the second country clearly has better production, the first country produces banana milkshakes far more cheaply (0.10 computers vs. 1.2 computers) As a result, if the first country makes the ten banana milkshakes and trades with the second country for computers at any value of 1 milkshake > 0.10 computers but < 1.2 computers, both countries will benefit.
How does productivity relate to economic growth?
The higher the productivity is, the country has better potential to produce more goods at a lower price and better quality goods are (visibles) and services are (invisibles). These goods will be attractive to other countries and therefore the export of a country will increase. This creates more incoming hot money to a country and AD: aggregate demand grows as more is being exported than imported and economy grows.
Do you agree that consumers will be better off if they can buy foreign goods that are price is cheaper as domestic once?
no
What is comparative advantage and absolute advantage?
absolute advantage is when a country,company, indivdual or region can produce a good better and at a cheaper cost than any other competitor.
Why do people in the US import items they could produce domestically?
The two main reasons are they are cheaper or they are better.
Which would be a better country to visit and ski in. japan or france?
France, it is cheaper to get there and they have better slopes. Also from a personal preference I like France much better than I did my trip to Japan.
Korea is better than any country?
It can be debated, but no country is "better" than another. Some are just better in some areas than others.
Why might a supermarket decide to import tomatoes rather than buy them from British growers?
They're cheaper and better. Some places are naturally better suited for growing various crops than others... the climate, or the soil, or the growing season, allows them to produce either a superior product, or to do so more economically. The overall result is that you get better quality produce at a lower price.
Which is better- An acoustic or an electronic drum set and Which is cheaper?
An electronic is cheaper, I guess. But I do think an acoustic sounds better.
What factors make people from the united kingdom move to another country?
Better weather and better lifestyle
Why is it better to produce a athletic running shoe company in china?
It's better for the company because China has cheaper labour rates than other countries like the United States,European countries,Japan, etc...
Why should I chose you and not the other one?
Because I am cheaper, produce better quality work, a faster worker, or am easier to deal with. People want cheap, right, quick, and easy.
What are People who traveled from one country to another to find a better life?
immigrants
What is better a PSP on NDS?
A psp is better but a nds is cheaper
What was the primary motivation of inventing the quad skate?
For better ability to turn and for faster travel
