Electronics!
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comparative advantage
i have a comparative advantage in sports when i play with the other girls
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.
Comparative advantage :)
yes the united states was on south koreas side and the soviet union was on north koreas side
For South Korea : KR
There is 2 North Korea and South Korea
Hu-Yang-Chang
Chu-young park
south korea became an independent country in 1953
Absolute advantage: Vietnam can produce 1000 million tons of rice while South Korea can produce 800 million tons of rice => Vietnam has absolute advantage (since it can produce more than Korea) Comparative advantage: Same example: Vietnam and Korea. To produce 1 more tonnes of rice, Vietnam has to give up producing 3 cars. However, to produce 1 more tonnes of rice, South Korea only have to give up producing 1 cars. => There is a lower opportuniy cost for Korea to produce rice. i.e. South Korea has the comparative advantage.