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When one country can produce a product more cheaply than another country. what can this be called?
Wiki User
∙ 9y ago
When one country can produce a product more cheaply than another country this is called comparative advantage. When one country can produce more goods than another using an equal amount of resources, this is called absolute advantage.
Wiki User
∙ 9y ago
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When one country can produce a product more cheaply than another country can this is called?
comparative advantage
What refers to a country's ability to produce more of a given product than another country can?
absolute advantage
What does Canada produce in comparative advantage?
Lumber for one... wheat. There are many. Simply think of what products or services Canada has a low-cost for. In other words, if the product has a low opportunity cost to another product, then chances are that country will export or "produce" in comparative advantage.
When a country is able to produce a product at a lower price than other countries it is said to have?
lopol
Why is it important for a countries export product to another country?
we need care .
When one country can produce a product more cheaply than another country can this is called?
comparative advantage
When one country can produce a product more cheaply than another country can this is called a?
comparative advantage
What refers to a country's ability to produce more of a given product than another country can?
absolute advantage
What is The ability to produce more cheaply?
The ability to produce a product or service at a better cost is called increase productivity. The United States of America leads the world in productivity.
What is a formation of an egg?
To produce another product
What is a production concept?
Production conceptMake the product cheaply distribute it cheaply and sell it cheaply. *The idea is that because its cheap people will buy it for the reason
What does Canada produce in comparative advantage?
Lumber for one... wheat. There are many. Simply think of what products or services Canada has a low-cost for. In other words, if the product has a low opportunity cost to another product, then chances are that country will export or "produce" in comparative advantage.
What is A product that is brought to another country?
Import
What country's main product is tulips?
The leading country to produce tulips is Holland.
What is one of two numbers whose product is?
Multiplicand is a number that is to be multiplied by another number to produce a product.
What do you call a product that is sold to another country?
exports(:
A product sent to another country and sold?
this is an Export.
