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How can a less developed country like Mexico have a comparative advantage relative to the US?
If they can produce something with less opportunity cost than the US. For example (purely academic and theoretical), to produce 1 million dices, Mexico has to give up 500 cars However, in the US, to produce 1 million dices, it has to give up 800 cars (due to different factors of production). Thus, Mexico has a comparative advantages over the US. Nevertheless, it is unlikely that less developed countries can gain comparative advantages over high income countries (except for example: China's sweatshops)
What country has a comparative advantage in producing personal computerin line skates?
To determine which country has a comparative advantage in producing personal computer inline skates, we need to consider factors like production costs, skilled labor availability, and technology. Typically, countries with advanced manufacturing capabilities and lower labor costs, such as China or Taiwan, may have a comparative advantage in producing personal computers. Conversely, countries with strong expertise in sports equipment, like Italy or the United States, may excel in producing inline skates. Ultimately, the specific advantage would depend on the relative efficiencies and resource allocations of each country in these sectors.
How do countries benefit from specialization?
Based on the concept of comparative advantage, a country will tend to specialize in fields where they have an advantage relative to other countries. Countries such as Australia have vast amounts of natural resources, so will tend to specialize in exporting mineral ore. China, with its vast labour pool will tend to specialize in manufacturing and the U.S with its vast R&D investment will tend to be the one who owns the intellectual property and patents. Though the examples given are simplistic in nature, they show that by specialising in areas where countries have an advantage they are on-the-whole better-off compared to attempting to do all the tasks; to do so would be inefficient. Hence, by allowing specialization countries are able to have a level of consumption or production greater than if trade was not conducted.
Is chiina a developed or a developing country?
China is a developed country.
How has China Developed?
They held the olympics in 2008
How can a less developed country like Mexico have a comparative advantage relative to the US?
If they can produce something with less opportunity cost than the US. For example (purely academic and theoretical), to produce 1 million dices, Mexico has to give up 500 cars However, in the US, to produce 1 million dices, it has to give up 800 cars (due to different factors of production). Thus, Mexico has a comparative advantages over the US. Nevertheless, it is unlikely that less developed countries can gain comparative advantages over high income countries (except for example: China's sweatshops)
What are the benefits of exporting to developed countries?
because we get alot from china and china is cool
What country has a comparative advantage in producing personal computerin line skates?
To determine which country has a comparative advantage in producing personal computer inline skates, we need to consider factors like production costs, skilled labor availability, and technology. Typically, countries with advanced manufacturing capabilities and lower labor costs, such as China or Taiwan, may have a comparative advantage in producing personal computers. Conversely, countries with strong expertise in sports equipment, like Italy or the United States, may excel in producing inline skates. Ultimately, the specific advantage would depend on the relative efficiencies and resource allocations of each country in these sectors.
What are the developed countries in the world?
Obvious developed countries are all of Europe, US, Japan, Russia, New Zealand and Australia (and to a extent China). There is point where a country is considered absolutely developed. It is always relative to other countries, so to determine which counties are "developed" is subjective. Also there are many countries where portions are more developed than others. Historically, development was measured based off money (GDP/GNP), but because of various economic factors (foreign investment, etc.) money alone was no longer an accurate comparative value, so we began using standard of living or quality of life. The UN currently uses the Human Development Index to measure development. For a map of countries (developed and not), visit the Related Link.
Which 5 countries using Eco friendly technology?
INDIA , CHINA , Russia , America and France . and there are many more countries which can be developed or developing countries.
Is Bahrain developed comared to china?
yes Bahrain is one of the most developed countries in Asia and the Middle-East. The Banking Sector is the Best in the ME.
What country was the trebuchet developed in?
The trebuchet was made in China, however, was used in Muslim and christain countries around the Mediterainean.
Is Brazil a undeveloped country?
No way! Brazil, China India and Russia are going to be the most developed countries on earth
What are three types of contries in the world that exist?
The three type of countries are: More Economically Developed Countries. These are countries such as the US, the UK and Canada where people are generally rich and the country is developed. The second type is Newly Industrialized Countries. These are countries such as China which were once poor but are now becoming much richer and more modern. The third type is Less Economically Developed Countries. These are countries in Africa and South America where people are generally quite poor and the country is not developed.
What is the comparative size of china?
pyramid spyhnx in Egypt
Could Colgate make their toothpaste in Mexico even though they are an American Co?
Of course; many American companies take advantage of cheaper production and labor costs in less developed countries such as Mexico or China and manufacture their products in such countries. This is called "offshoring" and unfortunately, is the reason many industries have closed their operations in the US and migrated whole industries into other countries.
Is china and Russia undeveloped countries?
The asian side of Russia is being disputed as undeveloped. Parts of China would be undeveloped. Overall though it could be disputed that they are developed
