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What is a consequence of following the Comparative Advantage Principle a. Countries only make one kind of good or service. b. Wages scale to exactly match the skill of the wage-earners. c. Countries b?
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When is trade mutually beneficial for two countries?
comparative advantage between two countries
What effect does increasing economic interdependence have on the countries of the worl?
A loss of comparative advantage.......
What gives china its comparative advantage over developed countries?
china is a great exporter and importer,
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.
When does country X have a comparative advantage in the production of coffee?
When they can produce it at a lower opportunity cost than other countries.
When is trade mutually beneficial for two countries?
comparative advantage between two countries
What effect does increasing economic interdependence have on the countries of the worl?
A loss of comparative advantage.......
Factors responsible for countries comparative advantage?
natural resources man-power governmental policies
What gives china its comparative advantage over developed countries?
china is a great exporter and importer,
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.
When does country X have a comparative advantage in the production of coffee?
When they can produce it at a lower opportunity cost than other countries.
Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods?
true，if only one has comparative advantages.
What factors affect the comparative advantage in trade?
biggest advantage of international trade shall be available to the participating countries only if trade is free and unfettered. It strongly affect prices, wages, employment and production in other countries.
Can comparative advantage be applies to humans?
Yes, comparative advantage applies to humans. It is the principle that individuals or countries should specialize in producing goods or services they can produce at a lower opportunity cost than others. By doing so, resources are allocated efficiently and overall productivity increases.
The growing importance of the global market and the roles of comparative advantage and absolute advantage in global trade?
In the time of global market, the country with absolute advantage has more priority to open wider the global market by having a monopoly on producing a specific product that other countries cannot produce. For the country with comparative advantage, it seems that it cannot stand steadily in the global market, because the quality of their products and what they can produce, the other countries can also produce, so they are facing the risk.
What are the changes in the UK's absolute and comparative advantage industries compared with other countries Take an example.?
Type your answer here... 不知道哦
Can there be trade between two nation even if one has absolute disadvantage?
Yes, and not only that, but such trade can be profitable for both countries due to comparative advantage.
