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
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad

Why demand curve is always negative and write its effects.


What is meant by non Price Competition? In which market structure does it exist?  None price competition is an effort put by the supplier to earn extra profit without enhancing

What is the difference between GDP and GNP?  Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea

Facilitating Restructurings- rationale in era of globalisation: There has been some progress in the last few years in efforts to improve the framework for sovereign restructur

comprehensively discuss the market structure in the South African mobile telecommunication industry

THEORY OF INTER-TEMPORAL CONSUMPTION: In the previous two units, we have been concerned with choices among contemporaneous commodities. An important class of choices made by c

a project report on marshalls marginal utility analysis