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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 the rational for the optimal use of a variable input?
uses of time series
How does foreign direct investment (FDI) help development? Foreign direct investment (FDI) shows an injection of resources in the economy. When those resources are used to rai
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#question.#quesExamine the expenditure trends over the last 40 years. What are the direction and magnitude of changes in spending in and between these various categories (with the
(a) Assume that Purchase Price is equal to initial Market Value (b) Your Market Rent starts at the indicated level and increases by this factor for all of Year 2 and for each y
Question 1: Write short notes on any FOUR of the following: (equal marks each) (a) Law of diminishing returns (b) Barriers to entry (c) Consumption Function (d) Devaluati
As selling is an ‘asking process’, how you could use this to assist you sell some further functionality to a system under development? When we use the buying cycle like a guide
Suppose you are the only market analyst in your company's management team. Your company belongs to the energy industry. It is an oil and gas company engaged in the exploration, d
What is poor governance? In countries along with poor governance: • The rule of law has not working for example civil war and areas run by war lord • Bribery and corrupti
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