Purchase Solution

comparative advantage

Not what you're looking for?

Ask Custom Question

Nation has a comparative advantage in the production of X, this means that the nation
a. cannot benefit by producing and trading this product
b. must give up less of other goods than other nations in producing a unit of X
c. has a production possibilities curve identical to those of other nations
d. is not subject to increasing opportunity costs

Purchase this Solution
Solution Summary

Nation has a comparative advantage in the production of X, this means that the nation
a. cannot benefit by producing and trading this product
b. must give up less of other goods than other nations in producing a unit of X
c. has a production possibilities curve identical to those of other nations
d. is not subject to increasing opportunity costs

Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

View More Free Quizzes
Related BrainMass Solutions

  • absolute advantage and comparative advantage

    252226 Absolute Advantage and Comparative Advantage Define and explain the difference between absolute advantage and comparative advantage. What is the significance of each in international trade processes? 1.

  • Absolute and Comparative Advantage Analysis

    /international-trade-31/introduction-to-international-trade-124/absolute-advantage-versus-comparative-advantage-493-12589/ Absolute Advantage Versus Comparative Advantage).

  • Would you rather have a comparative or absolute advantage?

    468617 Comparative and Absolute Advantage If you were President of the US and you were making decisions on trading, would you rather have a comparative or absolute advantage in trading?

  • Description of comparative advantage and absolute advantage

    346197 Description of comparative advantage and absolute advantage Explain the difference between comparative advantage and absolute advantage. Explain how economies benefit with specialization and trade.

  • Comparative Advantage

    Countries gain comparative advantage through specializing. Comparative advantage for Job Comparative advantage can be seen in the job scenario also.

  • comparative advantage

    Namibia has the comparative advantage. Comparative advantage will be calculated by calculating the efficiency for both the products of each country.

  • The Concept of Comparative Advantage

    599449 The Concept of Comparative Advantage What is comparative advantage? Evaluate the major sources of comparative advantage.

  • Comparative advantange and competivtive advantage

    189757 Comparative Advantange and Competivtive Advantage Discuss the difference between comparative advantage and competitive advantage with reference to beer pricing.

  • Comparative/Absolute Advantage

    Canada has absolute advantage in corn and wheat production. B. Mexico has absolute advantage in corn and wheat production. C. Canada has comparative advantage in corn production and Mexico has comparative advantage in wheat production. D.

  • Differences - Comparative and absolute advantage

    Comparative Advantage General Theory: A country should specialize in products and services in which they have a comparative advantage.

View More Related Solutions