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Define opportunity cost and explain its relationship to comparative advantage?
Opportunity costs is the highest valued alternative that must be given up to engage in an activity. Comparative advantage is the ability of an individual, a firm, or an country to produce a good or service at a lower opportunity cost than competitors.
Explain how absolute and comparative advantages were used in your simulation?
Oh, dude, absolute advantage is like when one country can produce a good with fewer resources than another country, and comparative advantage is when one country can produce a good at a lower opportunity cost than another. In our simulation, we used these concepts to determine which countries should specialize in producing certain goods to maximize efficiency and trade benefits. It's all about getting the most bang for your buck, you know?
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
What is advantage or disadvantage of free trade?
explain the advantages and disadvantages of active trade union movement to employers,employee and the economy?
Advantage a disadvantage of the unplanned economy?
The advantage of an unplanned economy is that I did my homework on time and you didn't. I get the grades while you get to explain to the prof that you didn't have time to do it, when in reality you were waiting for someone to give you all the answers on WikiAnswers.
Define opportunity cost and explain its relationship to comparative advantage?
Opportunity costs is the highest valued alternative that must be given up to engage in an activity. Comparative advantage is the ability of an individual, a firm, or an country to produce a good or service at a lower opportunity cost than competitors.
Explain how absolute and comparative advantages were used in your simulation?
Oh, dude, absolute advantage is like when one country can produce a good with fewer resources than another country, and comparative advantage is when one country can produce a good at a lower opportunity cost than another. In our simulation, we used these concepts to determine which countries should specialize in producing certain goods to maximize efficiency and trade benefits. It's all about getting the most bang for your buck, you know?
Explain why a niche company might have an advantage in a market Would price necessarily be an advantage Explain why or why not?
Explain why a niche company might have an advantage in a market would price necessarily be an advantage explain why or why not
How do you explain how comparative embryology and anatomy?
What do you mean by explain? Advise what it is that you need explaining on.
What is software explain?
what is the software
What does comparative method means?
to identify similarities and differences and to explain them
What is an array and explain its advantages and disadvantages?
what is array? explain with its advantage.
Explain what a systems software and list the example of systems software?
software eg
How can descriptive and comparative methods explain research collections?
descriptive-comparative methods of research is a way where we can normally predict the significance and difference of the two variables.
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
How do you make talented software?
You need to explain what you mean by "talented" software?
Explain application software?
Smmsmsdm
