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Q. If a scale economy is the dominant technological factor establishing or defining comparative advantage, then the underlying facts explaining why a particular country dominates world markets in some product can be pure chance, or historical accident. Explain, and compare this with the answer you could give for the Heckscher-Ohlin model of comparative advantage.
Answer: This statement is correct since the reason the seller is a monopolist may be that it happened to have been the first to produce this product in this country. It may possibly have no connection to any supply or demand related factors nor to any natural or man-made availability. This is all closely the opposite of the Heckscher-Ohlin Neo-Classical model's explanation of the determinants of comparative advantage.
Q.. "A good cannot be both land- and labor-intensive." Discuss. Answer: In a two good or two factor models for instance the original Heckscher-Ohlin framework and the factor
Brifly explaine the alternative explanation to the theory of international trade
Q . Consider that the relative capital abundance of Australia was so much greater than that of Sri-Lanka, that we would have to locate Australia far to the right on the K/L axis.
why is international trade important for south africa
1. Explain Pierre Bourdieu's concepts of field, habitus, doxa, and symbolic violence. How do these concepts clarify the continued dominance of neoclassical analysis in mainstream e
1.concepts of terms of trade,factors affecting terms of trade. 2.gross & net barter terms of trade. 3.terms of trade & economic development
The hospital, as an open system, affects and is affected by the surrounding environment; it is incumbent on staff to monitor and continuously track the variables contained in order
Q. Explain how the AA schedule is derived. Answer: For a fixed real money supply an enhancement in output leads to an increase in the domestic interest rate. In the foreign e
Q. Imagine that the economy is at a point on the DD-AA schedule that is above both AA and DD and where both the output and asset markets are out of equilibrium. Explain what will h
Q. The migration model of Todaro and Harris provided an important theoretical critique of the manufacturing-biased import-substitution trade-policy stance. Illustrate. Answer:
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