0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Has any company ever get comparative advantage in all good?
comparative advantage
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.
What is the ability of an entity to produce a good at an opportunity cost that is lower than that of another producer?
Comparative advantage :)
Is absolute advantage or comparative advantage more important?
Comparative advantage. Because a lower opportunity cost(comparative advantage) means a producer use the resource more efficint to produce what people want the most whereas absolute advantage only consider the number of goods or services being produced. Though a producer have a absolute advantage, but he or she may use the resource inefficiently, which will cause a disadvantge in the confront with scarcity. If we assign jobs according to comparative advantage, all individuals may benefit if the assignments are well specialized or the products are well exchanged. The resoure is limited, so only specialize each individual accroding to comparative advantage could lead to more total production.
How do you trade arise with comparative advantage?
Trade arises under comparative advantage because of differences in pretrade relative prices.
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.
What is the ability of an entity to produce a good at an opportunity cost that is lower than that of another producer?
Comparative advantage :)
Is absolute advantage or comparative advantage more important?
Comparative advantage. Because a lower opportunity cost(comparative advantage) means a producer use the resource more efficint to produce what people want the most whereas absolute advantage only consider the number of goods or services being produced. Though a producer have a absolute advantage, but he or she may use the resource inefficiently, which will cause a disadvantge in the confront with scarcity. If we assign jobs according to comparative advantage, all individuals may benefit if the assignments are well specialized or the products are well exchanged. The resoure is limited, so only specialize each individual accroding to comparative advantage could lead to more total production.
How do you trade arise with comparative advantage?
Trade arises under comparative advantage because of differences in pretrade relative prices.
What is comparative advantage in Grenada?
give me the answer
How does outsourcing relate to the concepts of comparative advantage and efficiency?
How does outsourcing relate to the concepts of comparative advantage and efficiency?Read more: How_does_outsourcing_relate_to_the_concepts_of_comparative_advantage_and_efficiency
Can you put comparative advantage in a sentence?
One sentence that uses "comparative advantage" in a sentence is, "A small business has a comparative advantage." The phrase pertains to the capability of a company to produces goods and services which are lower in cost compared to other companies.
What is the ability to produce a good or service at a lower opportunity cost than other producers incur is known as?
Comparative Advantage.
What term applies to this situation having a mechanic rather than dentist work on your automobile?
law of comparative advantage
What is Cambodia's comparative advantage?
Breast Milk
