Explain the concept of comparative advantage. Give an example. What is the difference between inherent comparative advantage and transferable comparative advantage? What are the similarities between absolute advantage and comparative advantage? Explain how to calculate comparative advantage. ...
Explain the concept of comparative advantage. Give an example. Determine whether the following statement is positive or normative: "The state should increase subsidies to universities because the future of our country depends on education." Explain this statement: ''If ...
Comparative advantage 比较优势（相对于绝对优势而言）： 如果一个国家在本国生产一种产品的机会成本（用其他产品来衡量）低于在其他国家生产该产品的机会成本的话，则这个国家在生产该种产品上就拥有比较优势。也可以说，当某一个生产者以比另一个生产者更低的机会成本来生产产品时，我们称这个生产者在...
aExplain absolute and comparative advantage using either a worked example, or an analysis of the changes in the United Kingdom’s (UK) absolute and comparative advantage. 使用一个工作的例子解释绝对和比较好处或者对在英国的英国绝对和比较 (好处上的) 变化的分析。[translate]...
aI thought for a while: 我预料一会儿: [translate] a在一起两年半了。 正在翻译,请等待... [translate] aExplain and provide examples of the difference between comparative and absolute advantage in global markets 解释并且提供区别的例子比较和绝对好处之间的在全球性市场上 [translate] ...
The terms of trade is a relative concept. To some extent, the terms of trade can reflect the changing trend of the price advantage and competitive ability of the country. In practical calculations, prices are generally expressed in terms of indices. The amount of foreign trade (value), which...
Central idea: Free Trade The theory of comparative advantage in two countries and two kinds of product model, division of labor on the basis of the two countries are no longer the absolute advantage, but the comparative advantage, although a country is absolute advantage in the production of ...
Can Comparative Advantage Explain the Growth of US Trade. Alejandro Cunˇat,Marco Maffezzoli. The Economic Journal . 2007Cunat, A., & Maffezzoli, M. (2007). Can comparative advantage explain the growth of US trade? The Economic Journal, 117 (April), 583-602....
A) What is meant by the term international trade? B) In the context of international trade, explain the concept of comparative advantage with specialization. C) Define and briefly explain Balance of Payments (BOP). Define public goods and common resource...
Some economists argue that the concept of indifference is hypothetical and therefore incompatible with real-life economic actions taken by consumers. Every action indicates a preference, not indifference. People’s relative preferences have been found to change over time and depending on their social co...