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What is the difference between Comparative Advantage and Absolute Advantage?
Difference between Comparative Advantage and Absolute Advantage:
Comparative advantage: it is the opportunity cost of producing the good is lower for which individual than for other people.
Absolute advantage: When he or she can do this better than other people.
Attentive: Don’t confuse about comparative advantage along with absolute advantage!
what is stagflation
explain the effects of various injections and withdrawals and show the equilibrium in the circular flow
barriers to entry?
given the consumer maximizing problem subjest to consumption, the firm''s maximizing problem subject to revenue as a function of labour demand, and the government''s budget as G=T.
conditions for steady state in solow model.in what respects is golden rule different from steady state?
Why might external economies of scale be of interest to developing countries?
What are cost and revenue relationships?
#question.distinguish between economic growth and economic development.
it has been argued that economic development of developing countries has been held back by a persistent fall in the terms of trade of developing countries over the long run
The original data values cannot be determined once they are grouped into a frequency distribution channel?
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