Japanese economics
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Economic opportunities arise from countries which develop industries in which they have a comparative advantage.
Using the country of Japan help discuss and explain the following
1. Explain the concept of comparative advantage.
2. Identify factors of production or technology that are in relative abundance in Japan (remember that labor as a factor of production can be segmented into unskilled, skilled, highly skilled, etc.).
3. According to comparative advantage, in which industries would you recommend the Japan to specialize?
4. Has the Japan specialized in your suggested industries?
5. Are there opportunities for industry specialization that you see unfilled?
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Economic opportunities arise from countries which develop industries in which they have a comparative advantage.
Using the country of Japan help discuss and explain the following
1. Explain the concept of comparative advantage.
Competitive advantage is one that a country has by being able to make certain goods and services more efficiently than its competitor country. Comparative advantage means that a country will specialize in making produce for which it has the greatest advantage. The concept of comparative advantage means the country has the ability of make certain good at lower costs when compared to other goods, compared to other nations. if there were no barriers to trade, the country that has comparative advantage tends to export goods in which it has comparative advantage. For instance, Japan has comparative advantage in making cars and so Japan exports cars (8) (10).
2. Identify factors of production or technology that are in relative abundance in Japan (remember that labor as a factor of production can be segmented into unskilled, skilled, highly skilled, etc.).
The factors of production hat is in relative abundance in Japan is a loyal ...
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