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
#question.suppose the # of producers of electric cars increases causing the supply curve to shift to the right. If the demand curve stays stationary what will happen to the produce

What are the income and cross elasticities of demand?  Why might they be useful?  Explain.

draw the total revenue curve and the total cost curve showing the profit maximizing level

Determinants of Social Demand - Economies of Scale The universe of knowledge is highly diverse. There are certain branches of knowledge whose value to human culture and civil


Think about the demand for the three popular game consoles: XBox, PS3, and Wii. What is the effect on the demand for XBox games and the quantity of XBox games demanded if, other th

KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run

the price of a laptop increases by 20% and there is a 40% drop in the quantity demanded

#question influence of an increase in migrant on market supply labour

• Production Function . The factors of production have to be combined in a particular manner to produce a certain product. Think of baking a cake which involves mixing fixed propor