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How can one calculate the terms of trade to determine comparative advantage in trade?
To calculate the terms of trade and determine comparative advantage in trade, one can use the formula: Terms of Trade Price of Exports / Price of Imports. By comparing the terms of trade between countries, one can identify which country has a comparative advantage in producing certain goods or services.
What is A major goal of many African nations is to build and produce goods for their own use?
According to experts, a major goal of many African nations is to build their own industries and produce goods for their own use.
The present choice between investing in capital goods and producing consumer goods now affects the ability of an economy to produce in the future. Explain.?
AnswerConsumer goods are only available for present use and will not produce wealth. Capital goods, though not providing an immediate benefit, will produce wealth for future use (for more consumer goods and/or more capital goods).
The present choice between investing in capital goods and producing consumer goods now affects the ability of an economy to produce in the future. Explain?
AnswerConsumer goods are only available for present use and will not produce wealth. Capital goods, though not providing an immediate benefit, will produce wealth for future use (for more consumer goods and/or more capital goods).
A major goal of many African nations is to build and produce goods for their own use?
factories
Is paicking is direct cost or indirect cost?
Packing Is not a direct cost for producing goods as it is packing which is used to pack the finished goods and not to use to produce goods.
How can one calculate the terms of trade to determine comparative advantage in trade?
To calculate the terms of trade and determine comparative advantage in trade, one can use the formula: Terms of Trade Price of Exports / Price of Imports. By comparing the terms of trade between countries, one can identify which country has a comparative advantage in producing certain goods or services.
What does it mean when economist says that an area specializes in producing certain products?
They use their resources to produce a limited range of goods.
What are the advantages of producing endospores?
The main advantage of producing endospores is that they are used to ensure certain things are sterile. Autoclaves use endospores to successfully grow.
What is a respectable person?
One who does not use you for his/her own advantage!
What is A major goal of many African nations is to build and produce goods for their own use?
According to experts, a major goal of many African nations is to build their own industries and produce goods for their own use.
What did they use to transport goods?
There own feet, horse back, and boats
The present choice between investing in capital goods and producing consumer goods now affects the ability of an economy to produce in the future. Explain.?
AnswerConsumer goods are only available for present use and will not produce wealth. Capital goods, though not providing an immediate benefit, will produce wealth for future use (for more consumer goods and/or more capital goods).
The present choice between investing in capital goods and producing consumer goods now affects the ability of an economy to produce in the future. Explain?
AnswerConsumer goods are only available for present use and will not produce wealth. Capital goods, though not providing an immediate benefit, will produce wealth for future use (for more consumer goods and/or more capital goods).
Why did the Greek trade with other cultures?
For profit, and to expand the range of goods for their own use.
What is the advantage of steel wire amour?
Because it steel wire can be use as it own earth connection
How did Hitler use his definition of Aryan to distort history and use it in its own advantage?
he dstortized history by having more authority
