Who has a comparative advantage in the production of apples?

Who has a comparative advantage in the production of apples?

When comparing two producers, whoever has the lower opportunity cost has the comparative advantage. Producing according to comparative advantage works for individuals, regions, and even countries. Spudville and Appletown can produce both potatoes and apples.

Who has comparative advantage example?

When comparing the opportunity cost of 1 cloth for both France and the United States, we can see that the opportunity cost of cloth is lower in the United States. Therefore, the United States enjoys a comparative advantage in the production of cloth.

Which country has an absolute advantage in producing apples?

the United States

Who has a comparative advantage in the production of oranges?

The United States

Which country has the comparative advantage in textile production?

The results have revealed that Bangladesh, China and Turkey have a strong comparative advantage in both the textile and clothing markets of the world, the US and the EU-15, while Germany has no significant comparative advantage in any of these markets.

Which country has a comparative advantage for producing cups?

Agrabah has the absolute advantage in producing cups because 50>20. h. To have comparative advantage means to have lower opportunity cost.৮ ফেব, ২০১২

Which country has a comparative advantage in the production of wheat?

Canada

Which country has a comparative advantage in producing computers home or foreign?

A country has a comparative advantage in producing a good if the opportunity cost of producing that good is lower in the country than in other countries. – The United States has a comparative advantage in computer production.

How do you determine opportunity cost?

The formula for calculating an opportunity cost is simply the difference between the expected returns of each option. Say that you have option A: to invest in the stock market hoping to generate capital gain returns.

Is it true that a country needs to have an absolute advantage in the production of a good in order to benefit from trade in that good?

If gains from trade are based solely on comparative advantage, and if all countries have the same opportunity costs of production, then there are no gains from trade. If a nation has an absolute advantage in the production of a good, it can produce that good using fewer resources than its trading partner.

Which country has an absolute advantage in producing clocks?

Denmark

Which of the following is the best example of a voluntary export restraint?

Which of the following is the best example of a voluntary export restraint? a limit set by the Korean government on the number of cell phones that the United States can import fro Korea. limit their exports to a country.

Which of the following would be expected if the tariff on foreign produced automobiles were increased?

Which of the following would be expected if the tariff on foreign-produced automobiles were increased? The supply of foreign automobiles to the domestic market would be reduced, causing auto prices to rise.

Which of the following refers to goods and services that are produced domestically and sold in another country?

Exports are the goods and services produced in one country and purchased by residents of another country. Exports are one component of international trade. The other component is imports. They are the goods and services bought by a country’s residents that are produced in a foreign country.

Is it better for a country to export or import?

If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.

What are the types of export?

Type of export

• Direct Export.
• Indirect Export.
• Merchant Export.
• Deemed Export.
• Penultimate sale.

What’s a export?

Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.

What is an example of an import?

The definition of import is to introduce or bring goods from one country to be sold in another. An example of import is introducing a friend from another country to deep fried Twinkies. An example of import is a shop owner bringing artwork back from Indonesia to sell at their San Francisco shop.

How do you use export in a sentence?

Export sentence example

1. There is an export trade in opium.
2. There is little export of the news with the only means of communication being local travelers.
3. The trade is chiefly confined to the export of cotton.
4. The chief product of the islands are bananas; the chief export sandal-wood.

What happens when a country imports more than export?

If a country imports more than it exports it runs a trade deficit. If it imports less than it exports, that creates a trade surplus. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. At that point, a trade surplus is healthier than a deficit.

What country has the largest deficit?

U.S.

What is the effect of too many imports on the economy?

When there are too many imports coming into a country in relation to its exports—which are products shipped from that country to a foreign destination—it can distort a nation’s balance of trade and devalue its currency.২০ মার্চ, ২০২০

What is it called when a country imports more than it exports?

A trade deficit occurs when a country’s imports exceed its exports during a given time period.

What is BOT and bop?

Comparison between BOT and BOP. Briefly BOT is the difference between money value of imports and exports of material goods only whereas BOP is the difference between a country’s receipts and payments in foreign exchange. It records transactions relating to both goods and services.

What is travel deficit?

Tourism deficit refers to the ▶ travel balance situation in which expenditures arising from travels of residents abroad exceed the ▶ interna- tional tourism receipts from foreign tourists. By implication, on a global scale, a large, positive tourism balance tends to belong to less developed countries.

Why a trade deficit is bad?

Trade deficits are the difference between how much a country imports and how much it exports. When done right, they can let trading partners specialize in their strengths and create wealth for all consumers. Gone wrong, they can harm labor markets and create problems of savings and investment.২৭ মার্চ, ২০২০