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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.
What is urbanisation? Urbanisation arises while an increasing proportion of the population live into cities, suburbs or towns. All cities are attractive to potential migrants s
The Wallpaper Shop, Inc., is a rapidly growing chain of wallpaper shops that caters to the do-it-yourself home remodeling market. During the past year, 15 stores were operated in s
example of an HMO with these types of set rates
QUESTION 1 (a) What, according to you, are the ergonomic problems associated with the use of visual display units? Describe the measures which can be taken to eliminate these p
Consider a Cournot duopoly. The market demand is p=190-q1-q2. Firm 1's marginal cost is 40, and firm 2's marginal cost is also 40. There are no fixed costs. A. Derive every fir
Ask question different between Marginalism & incrementalism #Minimum 100 words accepted#
ITunes is rapidly dominating the global market for music sale. Assume that the download price for Dance artist Calvin Harris's single "Feel So Close" is $1.19 and the number of d
Growth in Private Capital Flows is explained below: There has been a extraordinary growth in private capital flows since the 1990s. For instance, the value of capital flow tran
abstract & conclusion
Can less developed countries economies grow by developing its primary sector as agriculture? Less developed countries economies can grow by developing its primary sector as ag
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