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What does absolute advantage have to do with making economic choices?
Think that you're country A, wanting to buy pen and paper. Country B produces 1 million pen and 1 BILLION paper Country C produces 1 BILLION pen and 1 million paper Or, country B has the absolute advantage over production of paper while country C has the absolute advantage over production of pen. Coming back our theory of economy of scale, we know that to a certain point, increased production would lead to lower average cost and thus, lower price. This would mean that paper from country B is cheaper than country C whereas pen from country C is cheaper than country B. Therefore, you would choose to trade paper with country B while trading pen with country C. And this is why it is important to making economic choices.
What are 4 economic goals for a country?
1) Full employment 2) Price Stability 3) Economic Growth 4) Efficiency in production
What does China export the most of?
Electronics are the things that the country of China exports the most of. China is ranked number 1 as the country that exports the most products.
What are two levels of production?
two levels of production are: 1-subsistance production2-surplus production
How much cost will be in market for 1 inch of rice pulling?
Hi, what is the current price of rice pulling in the market pls let me know
What European country ranks number 1 in the world in olive production?
Spain.
What is Arkansas number 1 for what product?
rice
Who is the current largest uranium producing country?
This country is Kazakhstan.The uranium production of Kazakhstan is approx. 1/3 from the world production.
In Zombia it takes 10 resources to produce 1 ton of cocoa and 13.5 resources to produce 1 ton of rice. In South Curmudgea it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1?
In Zombia, the production of cocoa is more resource-efficient at 10 resources per ton compared to rice at 13.5 resources per ton. In South Curmudgea, cocoa production is less efficient at 40 resources per ton, while rice is produced at a more efficient 20 resources per ton. This suggests that Zombia has a comparative advantage in cocoa production, whereas South Curmudgea has a comparative advantage in rice production.
What does 1-800-rice-5890 mean?
It's a phone number.
What country first colonized El salvador?
the Chinese did and they sell rice & dumpling for 1 dollar
Why do you have to dial 1?
1 is the country code of the US. If you are outside of the US, you must dial 1 before any number to reach any number within the US. Every country has a different country code that you add to the beginning of a number in that country to dial a number in that country.
What are the most consumed foods in world?
Number 1 is rice and 2 potatoes.
How many grains of rice in 1 kg?
There are approximately 29,000 grains of rice in 1 kilogram. This number can vary slightly depending on the type and size of the rice grains. The estimation is based on the average weight and size of a single grain of rice.
How much gas produce of rice husk 1 kg?
The gas production from 1 kg of rice husk can vary depending on the gasification process used, but it typically yields about 1.5 to 2.0 cubic meters of syngas. This gas primarily consists of carbon monoxide, hydrogen, and methane. The efficiency of the gasification process and the moisture content of the rice husk can influence the exact amount produced. Overall, rice husk is considered a valuable biomass resource for energy production.
Where the production of rice is very high?
China is number 1India is number 2But in near future India will be number 1 overtaking China.
How many kilo of rice in 1 cavan of rice?
One cavan of rice typically weighs about 50 kilograms. This measurement can vary slightly depending on the region or country, but 50 kg is a commonly accepted standard for a cavan.
