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What is the difference between theory of absolute advantage and a theory of comparative advantage?
Those theories both refer to international trade, however absolute advantage was mentioned earlier. According to it, a trade between 2 countries is possible only if one has absolute advantage (produces a good with less costs or with less time) and other has absolute disadvantage in producing that good but at the same time it must have an absolute advantage in producing the secong good. If a country produces a good better (cheaper/faster), it would specialize on it and export. Theory assumes that only 2 counties and 2 goods exist, no other costs except for labour are taken into account.
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.
Does intra firm trade contradict the theory of comparative advantage?
Intra-firm trade does not inherently contradict the theory of comparative advantage; rather, it can complement it. Comparative advantage suggests that firms and countries should specialize in producing goods where they have a lower opportunity cost. Intra-firm trade occurs when different branches of the same company engage in trade, often to optimize production processes and leverage internal efficiencies rather than purely based on external comparative advantages. Thus, it reflects strategic decisions that may enhance overall competitiveness while still aligning with the principles of comparative advantage.
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
