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Can comparative benefit change over time?
Comparative benefit is a dynamic concept. A country can obtain or lose comparative advantage overtime when there is a change within relative efficiency as measured through opportunity cost ratios.
For illustrations in the instant aftermath of WW2 economists advised Japan to specialise within the rice production. They avoided the expert advice. Wide-ranging investment, a skilled labour force and technical expertise saw Japan obtain a comparative advantage into the production of cars and electronics.
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with a water park going in town. What kind of externality is this?
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I want a presentation on Saudi Arabia''s economic forecast for 2018 to 2020 and role and future of travel industry in it.
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