Absolute advantage and comparative advantage, economics, Microeconomics

Assignment Help:

Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the same amount of effort & resources, and they have an absolute advantage over there with other producers. The best at something does not mean which doing that thing is the best way to use your scarce economic resources. Both absolute & comparative advantage may vary significantly over time.

Related Discussions:- Absolute advantage and comparative advantage, economics

Optimal use of variable input, explain optimal use of variable input?

explain optimal use of variable input?

Elasticity of demand for gasoline - environmental services, Answer in True ...

Answer in True or Flees 1. "Revealed preference methods for valuing environmental services and goods (for example hedonic price method, travel cost model, etc.) can reveal non-

Tranasctions and strategies by michaels, some fields have large enough quan...

some fields have large enough quantities of both oil and ntural gas taht coordination must be achieved for the production of both, reather than oil alone as in our examples. will f

Tariffs, effect of tariffs on national income and employment

effect of tariffs on national income and employment

Equilibrium of a multi product firm, explain graphically Equilibrium of a ...

explain graphically Equilibrium of a multi product firm

Periodic table, which three group of the periodic table contain the most el...

which three group of the periodic table contain the most elements classified as metalloids (semimetals)?

Terms of trade, Terms of Trade: The ratio of average price of a country's e...

Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad

Benefits of education, Benefits of Education The returns a person/soci...

Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive

Behavioural economics, An economics branch which keep concentrate on illumi...

An economics branch which keep concentrate on illumination the economic decisions people make in practice, particularly when these conflict with what conventional economic theory p

Total cost and marginal cost, if tc is 200 what will be marginal cost?

if tc is 200 what will be marginal cost?

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

User Account

All Pages