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When a country is able to produce a product at a lower price than other countries it is said to have?
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∙ 7y ago
lopol
Wiki User
∙ 7y ago
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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.
A nation is said to have a comparative advantage when it is able to?
produce a product at a lower price than other nations.
Comparative advantage is the ability of a country to?
Produce a good at a lower opportunity cost than another country.╓■Taxen■╖
What circumstances would allow Country A to have an absolute advantage over Country B in the production of computers?
Companies in Country A can produce computers at a lower cost.
Why does trade benefit both countries with abundance and countries with few resources?
By specialising in goods which they produce at a lower opportunity cost (comparative advantage), countries can increase their total wealth because they can focus on production they are best at, trading that production to other countries who can produce goods they want for lower prices. When all countries are producing goods most efficiently and trading, everyone is better off, regardless of resource distribution.
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.
A nation is said to have a comparative advantage when it is able to?
produce a product at a lower price than other nations.
Why nike use countries like malasia for their factoies?
Production cost ! Countries like Malaysia survive on relatively lower wages than somewhere like america. It makes financial sense to produce a product for the lowest cost - maximising profit.
Comparative advantage is the ability of a country to?
Produce a good at a lower opportunity cost than another country.╓■Taxen■╖
What circumstances would allow Country A to have an absolute advantage over Country B in the production of computers?
Companies in Country A can produce computers at a lower cost.
Indonesia is a developed country?
Yes, Indonesia is a developing country. The developing countries are also called less-developed countries. Indonesia is a country with a lower standard of living and underdeveloped industrial base.
Why does trade benefit both countries with abundance and countries with few resources?
By specialising in goods which they produce at a lower opportunity cost (comparative advantage), countries can increase their total wealth because they can focus on production they are best at, trading that production to other countries who can produce goods they want for lower prices. When all countries are producing goods most efficiently and trading, everyone is better off, regardless of resource distribution.
When does country x have an absolute advantage over country y the production of corn?
Country x has an absolute advantage when it can produce corn at a lower cost than country y.
What is a coutry's ability to produce a good at a lower opportunity cost than another country can?
Comparative advantage :)
What is Comparative advantages?
A country has comparative advantage if it can produce a good for less cost than any other nation. (study island)A comparative advantage is the condition that exists when someone can produce a good or service at a lower opportunity cost than someone else.
What is a advantageous?
A situation in which a country, individual, company or region can produce a good at a lower opportunity cost than that of a competitor
How does increasing the GDP help a country?
It helps as it stops our country from being in debt so the higher the Gross Domestic Product (GDP) the lower chance of this country being in debt :)
