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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.
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How does tourism help with local economy?
well it helps the economy by giving them food
Which of the following best describes why economic indicators are useful?
They help people determine how healthy a country's economy is. To judge the overall condition of a particular country's economy-AmandaAmor They show the condition of a country's economy.
What is economic gain?
economic gain is to help the country grow in economy and finance.
Does buying goods from other countries hurt the economy?
No, the economy is built on trade and the circulation of money, by buying the goods you help the economy. By supporting a developing country's goods by buying them you help create demand for their industries and thus support their economy.
Why is slavery important to the south's economy?
Well, it WAS important, because the south was comprised of the production aspect of the country's economy. This was in the day before such labor-saving devices as tractors and harvesters, so slaves were needed to help take care of the crops. The country relied on the south not only to produce cotton, but quite a number of food products, although the north was able to compensate for the food.
What help do farmers play to help improve the economy?
They produce market seeds and crop to sell to other country's. They also supply you with food.
How does farming help the economy?
Food.
What is purpose of wages?
to help the worker and to help the economy of the country
Do the Olympics help the economy?
Yes, bringing the millions of people into the country to stay in hotels, pay to eat food, and to buy souvenirs.
What does processing of food help?
The cleaniness of food so we don't get sick off food as much.
How does tourism help with local economy?
well it helps the economy by giving them food
What are the goals of national food authority?
Any government oversight of the food industry is there to set standards for acceptable practices in growing, processing, and storing food. They also make sure foods are described truthfully in their packaging so people aren't misled regarding the contents of the food. In some countries they also promote products from that country to help the economy and aid the producers to gain a larger market.
Does war help or hurt a country's economy?
it doesnt
Which of the following best describes why economic indicators are useful?
They help people determine how healthy a country's economy is. To judge the overall condition of a particular country's economy-AmandaAmor They show the condition of a country's economy.
How could festivals help the economy of a country?
byheping in the activities here in the philippines...in our country
How can you help in the economy of the country?
Purchase products made in the country you are trying to help. As more items produced in a particular country get purchased facilities can hire more employees and give more hours to existing workforce, spurring the economy.
Which chemical gas does the mitochondria need to help it get energy by processing food in respiration?
oxygen
