Describe the concept of comparative advantage

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Reference no: EM1374706

Economic opportunities happen from nations which develop industries in which they have a comparative advantage.

Using the nation of Japan help discuss the following

1. Describe the concept of comparative advantage.

2. Identify factors of production or technology that are in relative abundance in Japan (remember that labor as a factor of production can be segmented into unskilled, skilled, highly skilled, etc.).

3. According to comparative advantage, in which industries would you recommend the Japan to specialize?

4. Has the Japan specialized in your suggested industries?

5. Are there opportunities for industry specialization that you see unfilled?

Reference no: EM1374706

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