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comparative advantage

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12y ago

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Related Questions

What is the role of management in national development?

Management anable specialization to increase in various fields,this therefore leads to quality service delivery in the Nation.


What is specialization and what did it lead to?

specialization is doing only one job and it leads to civilization


What is the benefit of specialization?

it leads to an increase in output


What does specialization in a nation lead to?

international trade


What is the relationship between specialization and trade and changing employment partners?

specialization depends on trade that is specialization leads to mass production and hence need for market for the surplus.


Which of these most influences a nation toward specialization?

productive resources


How does free trade most affect specialization?

Free trade encourages specialization because competition leads each country to concentrate on the things it does best.


What leads to an increase in the specialization of laborers?

Creates employees who are highly skilled in a specific area


International trade and specialization most often led to what?

an increase in a nation's productivity


Specialization and international trade will?

Result in a rightward shift in a nation's production possibilities curve.


What is specialization and how it leads to different jobs?

Specialization is when individuals or businesses focus on a specific area of expertise or service. This leads to different jobs as each specialization requires different skills, knowledge, and experience, which in turn creates a variety of roles within an industry or field to fulfill specialized needs. Specialization also promotes efficiency and productivity by allowing individuals to become highly skilled in a particular area.


What did Minnesota leads the nation in production of?

taconite

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