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
Sita expects her future earnings to be worth Rs 100. If she falls ill, her expected future earning will be Rs 25, There is a belief that she may fall ill 2 with probability of -3

Hi, I am taking an economics course. I have a problem where I am given 2 types of units with the same production rate and the labor used to produce those units. I am supposed to c

Explicit cost: Explicit costs are payments made by the firm when it purchases or hires factors of production for the production of goods and services. They are also referred t


consumer=m with the help of indifference curve analyis

What does Keynesian consumption function say about tax cuts

In John Stossel's article, "In Praise of Price Gouging", Stossel argues that a law banning price gouging would result in a two-block line for gasoline after Superstorm Sandy. a.

Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices  - The formula of it is: *  Arc Elasticity of Demand: An Example


this is a project I need help answering the questions