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When economists refer to the gains from trade, they mean that countries can benefit by specializing in the production of goods and services in which they have a comparative advantage, and then trading with others. This specialization allows for more efficient resource allocation, leading to increased overall production and consumption. As a result, both trading partners can enjoy a larger variety of goods at lower prices, ultimately enhancing economic welfare and growth.
What else can I help you with?
What are economists referring to when they talk about cost?
Opportunity Cost
How would the President of the US talk about scarcity and trade-offs?
The president of the united states would talk about scarcity and trade-off because its what he sacrifices in his everyday life for the whole world its what he trying to change.
When economists talk about a demand schedule for a product they mean?
A demand schedule is a table that shows the quantity of a product that consumers are willing to purchase at various price levels over a specific period. It illustrates the relationship between price and quantity demanded, typically demonstrating that as prices decrease, the quantity demanded increases, and vice versa. This tool is essential for understanding consumer behavior and market dynamics.
What does world famous economist talk about multi level marketing?
World-famous economists often critique multi-level marketing (MLM) schemes for being unsustainable and potentially exploitative. They point out that the majority of participants earn little to no profit, while a small percentage at the top benefit disproportionately. Economists emphasize that MLMs often rely on recruitment rather than actual product sales, creating a zero-sum environment where most participants lose money. Additionally, they warn that such models can resemble pyramid schemes, which are illegal in many jurisdictions.
What economists talk about utility what does it refer to?
economic utility; refers to the level of economic relevance,significance or usefulness of a given type and degree of consumption and production towards a given economic end. An economic end can be: 1-profit maximization 2-well fare maximization etc economic utility can be increasing,decreasing or constant depending on its economic utility reaction.
What are economists referring to when they talk about cost?
Opportunity Cost
Where to trade Pokemon in Pokemon SoulSilver?
You trade Pokemon in Pokemon centers, climb up the stairs and talk to the lady in the middle, connect with a friend, talk, then trade. Or go to the Global Trade Stationn.
How do you trade in STALKER shadow of chernoby?
press F to talk with someone and then there is a little box that says ''trade'' then click on it to trade
What is meant by usual exaggeration of trade?
sales talk
Will trade phione for dawn stone or gallade to the first reply?
Can I have one? Will trade you. Email me at aquafinay@gmail.com and we'll talk about the trade.
What does talk down to you mean?
To talk negatively to you
How do you talk to a hippo?
You don't talk to them. They are mean.
What does the word hablas mean?
talk you talk
Where do you trade shard from underground into Pokemon diamond?
Do you mean as trading what's from your explorer kit bag into your trainer bag up top or where do you trade your shards underground? Well, for the 2nd one I suggest you find the man that usually is around somewhere on each of the digging places. Talk to him and trade the shards.
What do girls want to talk about?
it depends what you mean by it, if you mean what would they like to talk about with you, then it depends on what she likes. for e.g, music. if you mean what do they talk about when they're together; boys. :)
Who do you talk to to get the medal for super power island?
Talk to Ned Noodlehead,give him a hot dog to trade with the medal.
How do you do a egg spine trade in Pokemon platinum?
you have to go to the union room and click on "spin trade" after you talk to friend
