Difference between absolute and comparative advantage, Business Economics

Assignment Help:

What is the difference between absolute and comparative advantage?

Difference between absolute and comparative advantage:

• Absolute advantage arises while a country or region can create more of a product with the same factor inputs.

• Comparative advantage exists while a country has lower opportunity cost into a good or service production.


Related Discussions:- Difference between absolute and comparative advantage

Entrepreneurship, what do you call an entrepreneur using someone elses idea...

what do you call an entrepreneur using someone elses ideas to start a business

How is the informal sector, How is the informal sector, urban modern sector...

How is the informal sector, urban modern sectors connected? Several urban regions into developing countries are dualistic as: current formal activity exists side by side along

Do all developing economies have same underlying problems, Do all developin...

Do all developing economies have same underlying problems? Less developed countries are similar but exceptional. The impact of a problem will vary depending upon circumstances

Explain the implications international capital flows problem, Explain the i...

Explain the implications international capital flows problem. Implications: • FDI can assist physical capital accumulation and result within growth - usually beneficial b

Calculate the npv and irr, You are evaluating a project in the country of E...

You are evaluating a project in the country of Expropriationstan. You estimate end-of-year cash flows as follows. Assume your discount rate for evaluating projects of this sort in

Define the planned or command economy system, Define the planned or command...

Define the planned or command economy system. Planned or command economy: Resources are owned through the state. The state assigns resources, and sets production goals a

Dynamic Multiplier, #what questDynamic Multiplier, Economicsion..

#what questDynamic Multiplier, Economicsion..

Business cycle, Analyse the effect of contraction phase to the vulnerable s...

Analyse the effect of contraction phase to the vulnerable society

Formulate qualitative forecast, Suppose you are the only market analyst in ...

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

Efficiency for the mauritian economy, Question 1: By using appropriate ...

Question 1: By using appropriate models critically analyse the following statement: "Money demand for speculative as well as transactional motive is inver

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd