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What is an example of a nation having an absolute advantage in the production of a product?
For example, Brazil has an absolute advantage over the United States in the production of coffee; the nations of the Middle East have an absolute advantage over the United States in the production of crude oil.
What example of absolute advantage that one country has in international trade today and tell why wouldn't this advantage is not sustainable today?
need answer
What is the Assumption of absolute cost advantage?
what are the assumptions of the absolute advantage cost?
Contrast between absolute advantage and comparative advantage?
Absolute advantage is when a producer can produce a good using less resources than their competitor(s), whereas comparative advantage is when a producer does not hold the absolute advantage but their ratio in producing a good is smaller. Example: Brian can type 30 words per minute and iron 10 shirts per house. John can type 15 words per minute and iron 8 shirts per hour. Though Brian has the absolute advantage in ironing, John has the comparative advantage.
What is an example that illustrates the difference between comparative advantage and absolute advantage in international trade?
An example that illustrates the difference between comparative advantage and absolute advantage in international trade is the scenario where Country A can produce both cars and computers more efficiently than Country B. However, Country A has a comparative advantage in producing cars, while Country B has a comparative advantage in producing computers. This means that even though Country A has an absolute advantage in both products, it is more beneficial for both countries to specialize in the product they can produce most efficiently and trade with each other.
What is the absolute advantage of Pakistan?
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What is an example of a nation having an absolute advantage in the production of a product?
For example, Brazil has an absolute advantage over the United States in the production of coffee; the nations of the Middle East have an absolute advantage over the United States in the production of crude oil.
What example of absolute advantage that one country has in international trade today and tell why wouldn't this advantage is not sustainable today?
need answer
What is the Assumption of absolute cost advantage?
what are the assumptions of the absolute advantage cost?
Contrast between absolute advantage and comparative advantage?
Absolute advantage is when a producer can produce a good using less resources than their competitor(s), whereas comparative advantage is when a producer does not hold the absolute advantage but their ratio in producing a good is smaller. Example: Brian can type 30 words per minute and iron 10 shirts per house. John can type 15 words per minute and iron 8 shirts per hour. Though Brian has the absolute advantage in ironing, John has the comparative advantage.
What is an example that illustrates the difference between comparative advantage and absolute advantage in international trade?
An example that illustrates the difference between comparative advantage and absolute advantage in international trade is the scenario where Country A can produce both cars and computers more efficiently than Country B. However, Country A has a comparative advantage in producing cars, while Country B has a comparative advantage in producing computers. This means that even though Country A has an absolute advantage in both products, it is more beneficial for both countries to specialize in the product they can produce most efficiently and trade with each other.
What is comparative advantage and absolute advantage?
absolute advantage is when a country,company, indivdual or region can produce a good better and at a cheaper cost than any other competitor.
What is the Total Loan Amount on Pakistan 2010?
59.84B$
What has China had an absolute advantage in producing?
They have an absolute advantage in making adult pleasures such as dildos and vibrators. Who knew the Chinese were such a horny nation.
In which sector Pakistan has Comparative Advantage?
None
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
Reasons for entering international markets?
There are 2 reasons for entering the international market or trade. 1.Absolute advantage :nations have an absolute advantage in proudcing goods. For example the US will produce 150 of x and 200 of Y and the EU will only produce 100 of x and 150 of Y. Here the USA produces more of both goods and has an absolute advantage. 2.Comparative advantage :This is when nations can produce a good with a smaller opertunity cost in comparrisant to its trade rivals.
