In a brief paragraph discuss the difference between absolute and comparative advantage identify an example of how comparative advantage prompts trade
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putra
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Social Studies
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Your Question : In a brief paragraph discuss the difference between absolute and comparative advantage identify an example of how comparative advantage prompts trade
Answer:
For the answer to the question above, comparative advantage refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another. Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages.
You are currently reading the article about lessons In a brief paragraph discuss the difference between absolute and comparative advantage identify an example of how comparative advantage prompts trade and this lesson url permalink of the article was https://choosequestion.blogspot.com/2017/09/in-brief-paragraph-discuss-difference.html Hopefully this question and answer article can give good answers, good learning.
In a brief paragraph discuss the difference between absolute and comparative advantage identify an example of how comparative advantage prompts trade
For the answer to the question above, comparative advantage refers to the ability of a party to produce a particular good or service at a lower opportunity cost than another. Even if one country has an absolute advantage in producing all goods, different countries could still have different comparative advantages.
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You are currently reading the article about lessons In a brief paragraph discuss the difference between absolute and comparative advantage identify an example of how comparative advantage prompts trade and this lesson url permalink of the article was https://choosequestion.blogspot.com/2017/09/in-brief-paragraph-discuss-difference.html Hopefully this question and answer article can give good answers, good learning.