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Why do countries trade?
International trade is the swap of goods and services among countries. Trade enhances consumer choice and complete welfare.
Various countries have various types of factor endowments as like climate, skilled labour force and also natural resources vary among nations. Therefore several countries are better placed in the production of specific goods than all others.
Economic theory predicts all countries achieve when they specialise and trade the goods wherein they have a comparative benefit. It is true even if one nation has an absolute benefit over the other country.
Do policies that work in one country always work in another? Less developed countries are similar but diverse in terms of history, institutions, culture and governance and man
Can economies grow of less developed countries by developing its secondary sector? Economies grow of less developed countries by developing its secondary sector because manufac
BALANCE OF PAYMENTS: The record of all transactions (trade and financial) of the residents of one country with the rest of the world is Balance of Payments (BoP). The directio
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
Task You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody. You have deci
The prevention of main swings in economic activity can be handled most simply by the household sector. Explain why?
How static multiplier can be shown diagramatcally
Question (a) The XYZ Election Commission maintains data showing the voting age population, the number of registered voters, and the turnout for federal elections. The following
Usage of Game Theory in Managerial decision
explain ththe test marketing approaches followed by fmcg companys
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