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Ricardo
Anonymous
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.
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What is the difference between theory of absolute advantage and a theory of comparative advantage?
The theory of absolute advantage states that a country should produce goods that it can produce more efficiently than other countries. On the other hand, the theory of comparative advantage argues that a country should specialize in producing goods that it can produce at a lower opportunity cost compared to other countries, even if it does not have an absolute advantage in that good.
The theory that nearly all interests are adequately presented through group activity is?
The theory that nearly all interests are adequately presented through group activity is known as group theory. Group theory posits that individuals can come together in groups to represent a wide range of interests and viewpoints, making it possible for groups to effectively advocate for various causes and address diverse issues. This theory highlights the power of collective action in representing and furthering different interests.
Why type of reasoning was used in the development of evolutionary theory?
The development of evolutionary theory was based on inductive reasoning, where conclusions were drawn from observations and evidence gathered from various fields such as paleontology, genetics, and comparative anatomy. Through this process, scientists were able to formulate the theory of evolution by natural selection, which explains how species change over time in response to their environment.
What best describes evolutionary theory?
Evolutionary theory suggests that living organisms have evolved over time through a process of natural selection, genetic variation, and adaptation to their environment. It explains how species change and diversify over generations, resulting in the biodiversity we see today. Evolutionary theory is supported by a wealth of scientific evidence from multiple disciplines, including genetics, paleontology, and comparative anatomy.
What are the theories on instructional materials?
Cognitive Load Theory: Focuses on managing the amount of information presented to learners to optimize learning. Multimedia Learning Theory: Emphasizes the importance of using a variety of media (text, images, video) to enhance learning outcomes. Constructivist Theory: Suggests that learners actively construct their own understanding and knowledge through interactions with instructional materials.
What are the theory identifies specialization as a reason for international business?
theory of comparative advantage.
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.
What theory identifies specialization as a reason for international business?
comparative advantage
Difference between absolute cost advantage theory and comparative cost advantage theory?
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
To what extent does the theory of comparative advantage explain the rise of the Indian software industry?
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According to classical trade theory a country will export an item?
in which it has a comparative advantage in producing
Distinguish betweenTheory of Comparative Advantage and Theory of Competitive Advantage?
please apply your mind and write your IGNOU assignments yourself.
The theory of comparative advantage exists because?
no nation can produce all the products its people want and need.
What are the key elements of Comparative Advantage?
Comparative Advantage is the idea that one person/business/or area can offer a product at a better price than another. The key elements would be the social and economic impact of this theory.
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.
