Explain advantage and comparative advantage differ, Microeconomics

1. Explain how absolute advantage and comparative advantage differ?

2. Give an example in which a person has an absolute advantage in doing some thing but another person has a comparative advantage .

3. Will a nation tend to export or import goods for which it has a comparative advantage? Explain.

4. Why do economists oppose policies that restrict trade among nations?

5. What are the different applications of comparative advantage?

 

 

Posted Date: 3/20/2013 4:09:10 AM | Location : United States







Related Discussions:- Explain advantage and comparative advantage differ, Assignment Help, Ask Question on Explain advantage and comparative advantage differ, Get Answer, Expert's Help, Explain advantage and comparative advantage differ Discussions

Write discussion on Explain advantage and comparative advantage differ
Your posts are moderated
Related Questions
How might you determine whether flute-playing ability is a highly heritable trait? If you want to improve your flute playing and someone tells you that musical ability is heritable

Foreign investment: To attract foreign investment – Developing Plans are used as a means of attracting foreign investment or foreign aid.Foreign government and international o

Consider an economy with three states. The following set of stocks is traded:   x 1 =(2,2,0)    x 2 =(1,0,3)  x 3 =(0,2,4). The t=0 prices of these stocks are given as follow

What is the mathematical definition of price elasticity of demand The price elasticity of demand is the percentage alters in quantity demanded divided by the percentage change

Separate Administrative Set-up for Exports:   It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO)

what do we mean by The narrowness of definition of the commodity.

Give two level of incomes 100$ and 150$ DRAW demand curve for individual a & b and then draw market demand curve for these two different kind of income

Problem 1: (a) Critically examine the differences between the Neo-classical growth models and the endogenous growth theory. (b) Show the relevance of such models in explain

optimal contracts under symmetric information