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What is one way a country can obtain absolute advantage in marketing a product?
enter into an orderly marketing agreement
When does country x have an absolute advantage over country y the production of corn?
Country x has an absolute advantage when it can produce corn at a lower cost than country y.
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.
If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
What are the assumptions of absolute advantage theory?
That a country has the best advantage of making all products, all things constant. It shows what a country would have if it didn't trade.
What is one way a country can obtain absolute advantage in marketing a product?
enter into an orderly marketing agreement
Which country borders the Pacific Ocean?
which country borders pacific ocean
What country borders three continents?
There is no country that borders three continents.
Which country borders with 11 country?
Russia borders 11 countries
Which small country borders Switzerland?
Liechtenstein is the small country that borders Switzerland.
What countrie borders New Jersey?
New Jersey borders no other country.
What foreign country borders California?
dumb #@$!, no country borders California u mother %*#&$%( retard
What large country borders Italy directly to the south?
No country borders Italy to the south.
What is the largest country Andorra borders?
France is the largest country that Andorra borders.
What are the 14 countries that have borders?
Every country has borders.
What country borders Cambodia and Vietnam?
LAOS is the only country that borders both Cambodia and Vietnam.
What country bordered Texas?
Mexico is the only country that borders Texas.
