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What else can I help you with?
Why is the east said to have a comparative advantage in producing oil?
The east has a comparative advantage in producing oil because it has fewer labor costs. American workers in oil production are paid a premium because of the dangerous and technical nature of the field.
In what ways can an economy be said to have a comparative advantage in the production of one good?
An economy can have a comparative advantage in the production of one good when it can produce that good at a lower opportunity cost compared to other goods. This means that the economy can produce the good more efficiently, allowing it to specialize in that particular product and trade with other economies for goods in which they have a comparative advantage.
In what circumstances is an economy said to have a comparative advantage in producing a particular good?
An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.
Difference between Competitive Advantage and Comparative Advantage?
Comparative advantage (of a country or firm, for example) is *given* by the access to certain resources that others don't have. Usually this is related to natural resources. I say "access" because it doesn't matter if you are or are not the owner. On the other hand, competitive advantages are *created* by combining different resources, primarily knowledge. In management this is equivalent to "rise barriers" for competitors, in the sense that a true competitive advantage is that one that is difficult to be copied by the competitors (although not impossible.) Due to the nature of the comparative advantages, it is usually said that they provide you a "static" advantage, something that others can surpass by using their competitive advantages, which are said to be "dynamic." Feel free to make corrections to my answer.
Productive and comparative advantage in developing countries?
Not really sure what you are asking, but in general developing countries have not achieved economies of scale in most markets and therefore do not have a comparative advantage over other countries producing the same goods. What they sometimes will do is setup a tariff on importing those types of goods from the country with economies of scale so that they can get some more business from within their own country, build up and will in time be able to compete globally. Later they abolish the tariff and hopefully the price of said good goes down for all with another competitor in the marketplace.
Why is the east said to have a comparative advantage in producing oil?
The east has a comparative advantage in producing oil because it has fewer labor costs. American workers in oil production are paid a premium because of the dangerous and technical nature of the field.
In what ways can an economy be said to have a comparative advantage in the production of one good?
An economy can have a comparative advantage in the production of one good when it can produce that good at a lower opportunity cost compared to other goods. This means that the economy can produce the good more efficiently, allowing it to specialize in that particular product and trade with other economies for goods in which they have a comparative advantage.
In what circumstances is an economy said to have a comparative advantage in producing a particular good?
An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.
Difference between Competitive Advantage and Comparative Advantage?
Comparative advantage (of a country or firm, for example) is *given* by the access to certain resources that others don't have. Usually this is related to natural resources. I say "access" because it doesn't matter if you are or are not the owner. On the other hand, competitive advantages are *created* by combining different resources, primarily knowledge. In management this is equivalent to "rise barriers" for competitors, in the sense that a true competitive advantage is that one that is difficult to be copied by the competitors (although not impossible.) Due to the nature of the comparative advantages, it is usually said that they provide you a "static" advantage, something that others can surpass by using their competitive advantages, which are said to be "dynamic." Feel free to make corrections to my answer.
Productive and comparative advantage in developing countries?
Not really sure what you are asking, but in general developing countries have not achieved economies of scale in most markets and therefore do not have a comparative advantage over other countries producing the same goods. What they sometimes will do is setup a tariff on importing those types of goods from the country with economies of scale so that they can get some more business from within their own country, build up and will in time be able to compete globally. Later they abolish the tariff and hopefully the price of said good goes down for all with another competitor in the marketplace.
When the value of a nation imports exceeds the value of that nations exports the nation is said to have?
When nation's value of imports exceeds the value of its exports, it can be said that the nation has a trade deficit.
How can food processing help in the economy of your country?
A nation's economy can be helped by the development of industries that use a principle called competitive advantage. If the cost to the nation (in terms of what it must give up to perform the tasks of that industry) are lower than those in economies with which it might trade, that nation is said to have competitive advantage. The industry will then stimulate beneficial trade for the nation processing the food. In the current global economic environment, industries that are labor intensive, such as food processing, can be good candidates for this beneficial trade.
Tom delay said that a nation without partisanship would be?
Tom DeLay said that a nation without partisanship would be tyranny.
What was the new nation the rebels said they were going to create?
bear flag nation
Who said America is a Prozac nation?
I did. My book, Prozac Nation, was published in 1994
How are Americans a nation of joiners?
Alexis de Tocqueville said we are a "nation of joiners"
When a country can produce many things but chooses to produce onwe thing is said to be?
When a country can produce many things but chooses to produce only one thing, it is said to have a comparative advantage in that particular good. This means that the country can produce that item at a lower opportunity cost compared to other goods, making it more efficient to specialize in that product.
