Real world examples of comparative advantage in the Philippines

Q: Japan has a comparative advantage over Germany in the production of cars if it:

A: Comparative advantage is the advantage in which a country can produce a good relatively cheaper than…

Q: Difference of Heckscher Ohlin Theorem from Comparative advantage theory?

A: International trade is the movement of money, products, and services through international borders…

Q: nd rates Imperfect competition Imperfect operation Government may restri

A: Comparative advantage is to the ability of a country for production of particular goods or services…

Q: Germany and Vietnam could become trading partners. Germany has an absolute advantage in making LCD…

A: Given: *Germany has the absolute advantage in making LCD. *Vietnam has a comparative advantage in…

Q: The principal concept behind comparative advantage is that a nation should   maximize its volume of…

A: When a country sells its goods and services to other countries, then these goods and services are…

Q: Which of the assumptions of comparative advantage seem unrealistic? Fixed technology and imperfect…

A: Trade is defined as the exchange of commodities and services across the boundary of the country.

Q: A country will choose to protect an industry to promote future comparative advantage instead of…

A: Comparative advantage: When a country is producing the output in which their opportunity cost is…

Q: The law of comparative advantages in trade typically applies only to trade between nations and…

A: The law of comparative advantage states that in a situation of free trade, an individual or a…

Q: Question 3: Economies of Scale, Imperfect Competition and International Trade Trade need not be…

A: While dealing or exchanging in international trade, both participants try to benefit from the…

Q: which of the four options best represents specialization and its relationship with trade? absolute…

A: From the four options comparative advantage is the best representative of specialization and it…

Q: A country in Southeast Asia has a cheaper manufacturing labor rate than America. How is this termed?…

A: Comparative advantage refers to producing the goods and services at lower opportunity cost. It means…

Q: radios radios 50 + 125 + 40 + 100 + 30 75 20 50 + 10 + 25 10 20 30 40 s0 coolers 25 s0 75 100 125…

A: A country is said to have comparative advantage in a good if the country has lower opportunity costs…

Q: If a scale economy is the dominant technological factor defining or establishing comparative…

A: The answer is as follows:-

Q: country will choose to protect an industry to promote future comparative advantage instead of…

A: *Answer:  Comparative advantage: When a country is producing the output in which their opportunity…

Q: Which country has the absolute advantage in good A? In good B? b. What is Canada's marginal…

A:

Q: Abundant inputs Specialized skills Mass production Answer Bank Japan's comparative advantage in…

A: Comparative advantage is an economy's ability to produce a particular good or service at a lower…

Q: comparative or absolute advantage

A: Absolute advantage depicts that ability of a firm, or a country to produce goods in absolute numbers…

Q: When a nation has a comparative advantage in producing a product, then in comparison with any other…

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…

Q: When a nation concentrates on a certain production activity based on a specific resource, which of…

A: The nations around the globe tend to have a limited amount of resources with them, which is the…

Q: Countries have different endowments of factors of production which leads to the law of comparative…

A: Factors of production: - The inputs that are used to produce goods and services are known as the…

Q: nation's ability to produce a product more efficiently than another country is referred to as…

A: When the two countries are open to free trade there are always gains from trade.

Q: Trade

A: Comparative advantage refers to a situation in which a country has more specialization in one good…

Q: After a meeting with Ghana’s president you learn that the government is also interested in…

A: The comparative advantage theory of trade says that every country has some advantages in its…

Q: Comparative advantage is the... a. Gains from international trade. b. Ability of one region to…

A: Comparative advantage is the basis of goods and services traded in the international market.

Q: The desire for profit can end up pushing countries toward producing goods in which they have a…

A: If there is comparative advantage for a particular good in a particular country,there would be more…

Q: An inefficient manufacturing base is likely to result when: A. only those goods are produced in…

A: An efficient manufacturing base refers to the situation when producers are producing efficiently by…

Q: A country that engages in no foreign trade is said to be in a situation of... a. Reciprocal absolute…

A: Absolute advantage - A country has an absolute advantage when it produces larger amount of the good…

Q: Comparative and absolute advantage

A: Absolute advantage and comparative advantage are the earliest theories in international trade.…

Q: Discuss the theory of comparative advantage , highlighting the extent to which the Asian Tigers have…

A: The theory of comparative advantage by David Ricardo tells us that it is possible for a country to…

Q: Compare and contrast absolute advantage and comparative theories. advantage trade

A: The goal of Trade Theory is to explain current trade patterns and their impact on the domestic…

Q: The primary benefit that results when a nation employs its resources in accordance with the…

A: The absolute advantage of a country is the ability to produce commodities in large quantities than…

Q: Compare and contrast absolute advantage and comparative advantage

A: Absolute advantage is the ability of a party (person, company or country) can produce large quantity…

Q: When a nation concentrates on a certain production activity based on a specific resource, which of…

A: The word "comparative advantage" refers to how trade benefits businesses, governments, and…

Q: Explain the statement: “Countries that specialize based on comparative advantage gain from trade.”

A: The measure that involves the transfer of either services or goods being from one entity or person…

Q: QUESTION 11 Country B 4 Country A Textiles 3. Soybeans The numbers in the table indicate the number…

A: Opportunity cost is the worth of the following best elective when a choice is made; it is given up.…

Q: a) A country can have an absolute advantage in the production of a good, but not have a comparative…

A: International trade is the exchange of goods and services with different countries or across border.…

Q: Why does australia have a comparative advantage in producing wheat?

A: Comparative Advantage:- The capability to manufacture commodities and services with a reduced…

Q: Which one of the below describes a situation where one country's production cost are lower than the…

A: Opportunity cost arises in making a decision where the value of the best alternative is lost.

Q: Each country should specialize in producing that good for which it a. has a comparative advantage b.…

A: To determine when a country should specialize in production of a good.