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What economic term refers to the situation where one country can manufacture and port automobiles at a lower cost than its competitors?
The economic term that describes this situation is "comparative advantage." A country has a comparative advantage in producing a good, such as automobiles, when it can produce that good at a lower opportunity cost than its competitors. This concept suggests that countries should specialize in the production of goods where they have a comparative advantage, leading to more efficient global trade.
What else can I help you with?
What's the economic situation of Italy now?
The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced.
An important economic activity in Switzerland is?
the manufacturing of automobiles
What was the nations economic situation in 1930?
Brandon
An economic activity that uses raw materials to manufacture something new?
Secondary Industry
Under the economic policy of mercantilism which of these did the colonies not have to do?
Under the economic policy of mercantilism the thing that the colonies did not have to do was Manufacture the same items that were produced to England ------> Is MpK
What's the economic situation of Italy now?
The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced.
An important economic activity in Switzerland is?
the manufacturing of automobiles
When was Saturn Automobiles founded?
In 1982, the company whom manufactured Saturn Automobiles were founded. Due to the economic crisis in 2009, Saturn Automobiles had closed their door for good due to this time of crisis.
What does Competitors mean?
An organization or country that is engaged in commercial or economic competition with others
What is the economic resources of Canada Canada?
Oil, forestry, agricultural products, manufacturing (automobiles).
What kind of interest group is the national association of manufacture?
economic
How did war affect america's economic situation?
economic problems
What was the impact on Henry Fords automobile on the US?
automobiles sparked economic growth and social change
How did the war affects Americas economic situation?
It created economic problems .
How did the revolutionary war affect Americas economic situation?
it created economic problems.
The economic policy of mercantilism which of these did the colonies not have to do?
manufacture the same items that were produced in england
What was the nations economic situation in 1930?
Brandon
