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What is foundation of human skills?
The foundation of human skill is based upon the insatiable and limitless wants and desires of people. If a person wants something (everyone experiences the phenomenon of desire), thay must work towards that achievement. This involves what economists refer to as "absolute advantage", or the ability of human capital and labor to produce goods and services at a cost. From absolute advantage, we derive "comparative advantage". Comparative advice describes the ability to produce goods and services at a cost less than that of another producer. For example, General Electric could have produced computers, but Apple was able to produce them at less cost. GE has absolute advantage, but Apple has compartative advantage. Producing computers is Apple's skill. The desire to "be better off" drives human skill, which can be can be highly specialized and ultimately successful.
How do you put Pecuniary in a sentence?
My mother left me a pecuniary legacy
How can you put the word monetarily in a sentence?
"College is draining me monetarily."
How do you put dividends in a sentence?
My dividends were pleasantly surprising this quarter.
He always run after moneyCorrect the Sentence?
I believe that it is a correct sentence just put a space between the word 'money' and 'correct'
Can you give me a sentence with the word comparative advantage?
i have a comparative advantage in sports when i play with the other girls
Has any company ever get comparative advantage in all good?
comparative advantage
Define comparative advantage?
When a company or an individual makes a product or carry out a certain economic activity better than its competitors is called comparative advantage. A comparative advantage gives the company an advantage to make higher profits.
What is the ability of an entity to produce a good at an opportunity cost that is lower than that of another producer?
Comparative advantage :)
How do you trade arise with comparative advantage?
Trade arises under comparative advantage because of differences in pretrade relative prices.
What is comparative advantage in Grenada?
give me the answer
How does outsourcing relate to the concepts of comparative advantage and efficiency?
How does outsourcing relate to the concepts of comparative advantage and efficiency?Read more: How_does_outsourcing_relate_to_the_concepts_of_comparative_advantage_and_efficiency
What term applies to this situation having a mechanic rather than dentist work on your automobile?
law of comparative advantage
What is the ability to produce a good or service at a lower opportunity cost than other producers incur is known as?
Comparative Advantage.
Specialization in a nation leads to?
comparative advantage
In which sector Pakistan has Comparative Advantage?
None
What is South Korea's Comparative advantage?
Electronics!
