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Elena L [17]
1 year ago
12

quiclet if a country has an absolute advantage in the production of something it should specialize in the production of it as a

potential major export
Business
1 answer:
makkiz [27]1 year ago
7 0

Even though the United States has an absolute advantage in producing both refrigerators and shoes, it makes economic sense for it to specialize in the good for which it has a comparative advantage. The United States will export refrigerators and in return import shoes.

<h3>Do all countries have an absolute advantage in production?</h3>

In the production of at least one good or service, almost every nation enjoys an absolute competitive advantage. The key to absolute advantage is low-cost production. For instance, because they can benefit from low labor costs, China and other Asian nations are known to have a distinct advantage in the manufacturing sector.

<h3>What determines a nation's choice to specialize in a particular good?</h3>

When resources are scarce, a country's decision to focus on producing a specific good is also heavily influenced by its comparative advantage. Comparative advantage is based on the idea of opportunity cost, whereas absolute advantage refers to the superior production capabilities of one nation over another.

Does Japan have an absolute advantage in the auto industry?

Japan is said to have a clear advantage in the auto industry if it can produce cars just as well as the United States, but more quickly and with higher quality. The kinds of goods a nation decides to produce are greatly influenced by its absolute advantage or disadvantage in a given industry.

Learn more about U.S. auto industry:

brainly.com/question/19166394

#SPJ4

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Jose received $400 for his birthday from his family. He wishes to buy a motorcycle and decides to use his birthday money towards
arsen [322]

Answer:

The correct answer is Future value with compound interest and $478.25.

Explanation:

According to the the scenario, the given data are as follows:

Present value (PV) = $400

Rate of interest = 6%

Rate of interest ( compounded quarterly) (rate) = 1.5%

Time period = 3 years

Time period ( compounded quarterly) ( Nper) = 12

So, we have to calculate Future value with compound interest because it is asking for a amount after 3 year.

So, we can calculate the future value by using financial calculator.

The attachment is attached below.

So, FV = $478.25

4 0
3 years ago
Charles owns a water pump. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a
timofeeve [1]

Answer:

Cost of each bottle of water is $7.

Explanation:

This is the case for economies of scale. When Charles produce 1 bottle of water, it costs him $1 per bottle, when 8 bottles are produced it costs him  $7. The cost per bottle of water reduces as units increases.

3 0
2 years ago
What is one medical use for x-rays​
MakcuM [25]

Answer:

X-rays can be used to see what areas of a bone a broken or injured. It helps understand what parts of the body may have injuries.

Hope this helps.

6 0
3 years ago
Agent fred fronts his cousin norm money to buy a client's house. shortly after the closing, agent fred flips the house and reali
VashaNatasha [74]
<span>This is the situation or case of real estate dealing in which Agent fred fronts his cousin norm money to buy a client's house. shortly after the closing, agent fred flips the house and realizes a substantial profit. agent fred's actions might be describe as Self-dealing.
Self-dealing is not considered good in real estate. In self-dealing you are interested in your own benefit more than the benefit of clients. There are many methods of dealing are used by agents in real estate field.</span>
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3 years ago
Why might increasing taxes increasing taxes as a fiscal policy be a more difficult policy than the use of monetary policy to slo
Ratling [72]

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The legislative process experiences longer delays than monetary policy.

Explanation:

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