Distinguish between absolute advantage and comparative advantage.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (17 reviews)
An economic unit has an absolute advantage if it can produce one unit of a g...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
What is the difference between absolute advantage and comparative advantage? How can a less developed country like Mexico have a comparative advantage relative to the US?
-
What is the difference between absolute advantage and comparative advantage? How can a less developed country like Mexico have a comparative advantage relative to the US? Discuss.
-
Explain how absolute advantage and comparative advantage differ.
-
Solve the following general system by inverting the coefficient matrix and using Theorem 1.6.2. x1 + 2x2 + 3x3 = b1 x1 - x2 + x3 = b2 x1 + x2 = b3 (a) b1= - 1, b2 = 3, b3 = 4 (b) b1 = - 1, b2 = -1,...
-
Write a structural formula for the principal organic product or products of each of the following reactions: (a) Acetyl chloride and bromobenzene, AlCl3 (b) Acetyl chloride and 1-butanethiol (c)...
-
What is the wavelength of the 60,000-Hz radio wave used by radio-controlled clocks and wristwatches?
-
Consider a GB2 probability density function given in equation (17.3). a. Reparameterize the distribution by defining the new parameter \(\theta=e^{\mu}\). Show that the density can be expressed as...
-
In its annual report, Phono Corporation reported beginning total assets of $360,000, ending total assets of $406,000, beginning fixed assets of $300,000 (at cost), ending fixed assets of $311,000 (at...
-
Image transcription text 1. 2. Before you start: Have you done all the practice quizzes, including the one on sigificant figures? The quizzes do not count formarks, and some of the quiz questions are...
-
The following pretax amounts were obtained from the financial records of Wayne Company for 2018: Retained earnings (1/1/18) Sales revenues Rent revenue Cost of goods sold Selling and administrative...
-
In reference to the production possibilities curve, how might a nation increase its total output if it is already fully employing its resources?
-
Indicate some ways in which you or your friends practice the law of comparative advantage.
-
The cost of owning and running a home has fallen by nearly a fifth during the past year to its lowest level since 2006. The average property cost 7,298 a year to run in the 12 months to April, 17 per...
-
Consider the closed-loop system composed of the feedback interconnection of: the state-space system with matrices += ( 0 ) . B = ( 2 ). C = ( 0 ). D=0 10 the dynamic observer x (t) =Ax (t) + Bu (1) +...
-
Consider the closed-loop system composed of the feedback interconnection of: the state space system with matrices 01 A = - ( 16 ) B=( : ) .C = ( 10 ) the dynamic observer X(t) = AX (1) + Bu (1)+L(y...
-
Given that A is a collar (free to rotate and to slide up-down), while B is roller. The mass of uniform rod AB is 160 kg and mass "m" = 100 kg. Determine the smallest distance "x" needed to make the...
-
2.15: (a) A thin circular member, AB, lying in the x-y plane, as shown in Fig. (2P.15a), is subjected to a force Px and a moment M. Determine the resulting internal forces at any cross section in...
-
1.6:* A truss, consisting of two pin-connected rods AB and AC (each made of the same material whose density is p (N/m) and each having different cross-sectional area A), supports a force P as shown...
-
Differentiate the function. A + Bz + Cz F(2) : z2
-
If (x) 0 on the interval [a, b], the definite integral gives the exact area under the curve between x = a and x = b.
-
Chapter 6 pointed out that, because faster capital formation comes at a cost (reduced current consumption), it is possible for a country to invest too much. Suppose the government of some country...
-
Explain why the best educational policies to promote faster growth might be different in the following countries. a. Mozambique b. Brazil c. France
-
Comment on the following: Sharp changes in the volume of investment in the United States help explain both the productivity slowdown in 1973 and the productivity speed-up in 1995.
-
You will modify the add method in the LinkedBag class. The add method is the only thing you should modify in LinkedBag. Add a second parameter to the method header that will be a boolean variable:...
-
Generate Random Decals is primitive please fix that as well As a license plate number, integers are to be used. Positive numbers add a car, negative numbers remove a car, zero stops the...
-
Describe the competitive positions in the drone industry and assess the opportunities for at least three positions in the industry.
Study smarter with the SolutionInn App