Country x has an absolute advantage when it can produce corn at a lower cost than country y.
Country X can grow corn more cheaply than Country Y.
As of 2011, approximately 45% of US corn production is being used for ethanol production.
It is just the production of crops such as corn and oats.
The easiest way is by freely trading with other countries freely. This is illustrated in the theory of competitive advantage. For example take American and say Mexico. Assume that there are two goods, corn and automobiles. Assume that Mexico is really good (efficient) at producing automobiles but not good at producing corn. Assume that America is really good at producing corn but not good at producing automobiles. When Mexico and America aren't trading, they are bound by their own individual PPCs. When they start trading, Mexico would want more cars (because they aren't good at making them) and thus start trading their corn (which they are really good at making) for the cars that America is really good at making. By doing this they are able to use their efficient production of corn to acquire a good that they would otherwise not be able to manufacture very efficiently. This is the same as if they could produce cars with the same efficiency as they could produce corn (because they would be able to convert corn into cars). America would see the same effect just reversed (cars instead of corn). Thus, they would be able to achieve a combination of goods outside of their own PPC.
No because various governments especially the US give farmers money to when they grow corn on top of the market price. They also put taxes on imported corn greater than those on domestically grown corn. This gives an unfair advantage in the market for US corn.
Country X can grow corn more cheaply than Country Y.
The United States, where 60% of the world production is grown.
Sinaloa is the state with the largest production of corn in Mexico. Its capital Culiacan is also close to the most productive corn fields in such country.
As of 2011, approximately 45% of US corn production is being used for ethanol production.
It is just the production of crops such as corn and oats.
Nebraska is a state located south of the Dakotas and is known for its production of corn.
Iowa
Iowa
Iowa leads the states in the production of corn.
corn
Environmental sustainability is making responsible decisions that reduce your business' negative impact on the environment. There is a lot of argument concerning corn and its production. It isn't the corn that is or isn't environmentally sustainable, it is the different production methods and use of those corn products that have to be examined,.
No. The first commercial production of corn oil was in 1889.