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When is trade mutually beneficial for two countries?
comparative advantage between two countries
What effect does increasing economic interdependence have on the countries of the worl?
A loss of comparative advantage.......
What gives china its comparative advantage over developed countries?
china is a great exporter and importer,
Has any company ever get comparative advantage in all good?
comparative advantage
If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
When is trade mutually beneficial for two countries?
comparative advantage between two countries
What effect does increasing economic interdependence have on the countries of the worl?
A loss of comparative advantage.......
Factors responsible for countries comparative advantage?
natural resources man-power governmental policies
What gives china its comparative advantage over developed countries?
china is a great exporter and importer,
Has any company ever get comparative advantage in all good?
comparative advantage
The law of comparative advantage was developed by who?
The law of comparative advantage was developed by David Ricardo, an economist in the early 19th century. Ricardo's theory explains why countries specializing in the production of goods in which they have a lower opportunity cost can benefit from trade with other countries.
If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
When does country X have a comparative advantage in the production of coffee?
When they can produce it at a lower opportunity cost than other countries.
Who had presented comparative advantage theory?
The theory of comparative advantage was presented by economist David Ricardo in the early 19th century. Ricardo argued that countries should specialize in producing goods and services in which they have a lower opportunity cost, and then trade with other countries to maximize overall production and consumption.
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.
Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods?
true，if only one has comparative advantages.
