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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.
Does a country have a comparative advantage in the production of some good?
Yes, a country has a comparative advantage in the production of a good when it can produce that good at a lower opportunity cost compared to other countries.
In which country does a comparative advantage in the production of a good exist if it can?
A comparative advantage in the production of a good exists in a country when it can produce that good at a lower opportunity cost compared to 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.
When a country or a region of a country specializes in producing the product that has a lower opportunity cost compared to another country or region it is practicing?
When a country or a region specializes in producing a product that has a lower opportunity cost compared to others, it is practicing comparative advantage. This specialization allows for more efficient resource allocation, leading to increased overall production and trade benefits. By focusing on what they do best, countries can trade for other goods, maximizing economic output and improving welfare.
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 a country can produce many things but chooses to produce onwe thing is said to be?
When a country can produce many things but chooses to produce only one thing, it is said to have a comparative advantage in that particular good. This means that the country can produce that item at a lower opportunity cost compared to other goods, making it more efficient to specialize in that product.
Does a country have a comparative advantage in the production of some good?
Yes, a country has a comparative advantage in the production of a good when it can produce that good at a lower opportunity cost compared to other countries.
In which country does a comparative advantage in the production of a good exist if it can?
A comparative advantage in the production of a good exists in a country when it can produce that good at a lower opportunity cost compared to 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■╖
a situation in which one nation can produce a product or service at a lower opportunity cost than another nation is known as?
A situation in which one nation can produce a product or service at a lower opportunity cost than another nation is known as "comparative advantage." This concept suggests that countries should specialize in producing goods where they have a lower opportunity cost, allowing for more efficient allocation of resources. By focusing on their comparative advantages, nations can trade with each other to increase overall economic welfare.
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.
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 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.
