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What is the ability to produce a product the most efficiently given all the other products that could be Produced?
Wiki User
∙ 10y ago
Comparative Advantage
Wiki User
∙ 10y ago
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The ability to produce a specific product more efficiently than any other nation?
absolute advantage
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
What are the five basic problems of economics?
Five Baisc Problems of economics 1) Wat to Produce? 2) In what quantity ti be produced 3) How to Produce? 4) For whom to Produce? 5)How efficiently are the Resources being utilisec??
Why does it make sense to trade with other nations?
A nation will produce what it can produce most efficiently and effectively and buy from other nations what they can produce most efficiently and effectively.
The ability to produce a specific product more efficiently than any other nation?
absolute advantage
How does business to be successful it must produce quality products operate efficiently and be what?
Quality consceous and competitive.
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
What waste product is produced when ATP is produced?
Carbon dioxide and water are produced as waste products when the mitochondria produce ATP
Why is farming important in West Virginia?
Of course the simple answer is that people have to eat. It is also true that locally growm produce draws a premium and that products like milk with a short shelf life can be produced more efficiently when close to the consumer.
What is the term used to describe the ability to produce a specific product more efficiently than any other nation?
Absolute Advantage
Have the products produced by Sephora been tested on animals?
Sephora states that all of their products have no animal testing to produce.
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
What types of products are produced by King Koil?
King Koil is a producer of mattresses. They produce mattresses which are designed to provide spinal support, and are produced in Australia. They also produce bedding.
What type of dairy product does the Ayrshire produce?
They are identical to the products produced by the Holstein, Gurnsey, Jersey or Brown Swiss. They produce raw milk which is then converted into other dairy products.
What are the five basic problems of economics?
Five Baisc Problems of economics 1) Wat to Produce? 2) In what quantity ti be produced 3) How to Produce? 4) For whom to Produce? 5)How efficiently are the Resources being utilisec??
Why don't all reactions produce the same amount of products?
all reactions are different. therefore, different amounts of products are produced.
