1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Arisa [49]
1 year ago
13

What is comparative advantage and why is it important in international trade ?

Business
1 answer:
algol [13]1 year ago
6 0

Based on the international trade concept, comparative advantage is the ability to produce goods at a cheaper cost than competitors, and it is important in international trade because it enhances resource allocation.

<h3>What is Comparative Advantage?</h3>

Comparative advantage is a term that is used to describe the country's capacity to manufacture a specific good or service at a lower opportunity cost than its trading partners.

Usually, Comparative advantage is utilized to explain why companies, countries, or individuals can profit from the trade.

<h3>Importance of International trade</h3>
  • It helps countries to allocate resources for more gains
  • It helps countries to produce goods at a cheaper cost
  • It helps the country to specialize in production sectors they have more advantages.
  • It helps countries to improve their exportation income.

Hence, in this case, it is concluded that comparative advantage is beneficial to countries when it comes to production in international trade.

Learn more about Comparative Advantage here: brainly.com/question/12291750

#SPJ1

You might be interested in
Starbucks is owns and operates most of its retail outlets; mcdonalds franchises most of its retail outlets. an advantage of fran
Sergeeva-Olga [200]
Go to hw is hard .com
6 0
3 years ago
An account that would be increased by debit is
Gnesinka [82]

I would assume it's a bank account...


6 0
3 years ago
In a command economy, certain sectors of the economy are left to private ownership and free market mechanisms, while other secto
quester [9]

Answer: B - False

Explanation:

In a command economy the government only makes economic decisions- what is produced, price, income etc . The government owns all means of production.

I hope my answer helps.

5 0
3 years ago
It costs Garner Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A fore
vlada-n [284]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

It costs Garner Company $12 of variable costs.

A foreign wholesaler offers to purchase 3000 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted.

Because it is a special offer and there is unused capacity, we will not take into account the fixed costs:

Total variable cost= 12 + 1= $13 per unit

Effect on income= number of units* contribution margin per unit

Effect on income= 3,000* (15 - 13)= $6,000 increase

5 0
3 years ago
PLZ I NEED HELP FAST
Sedaia [141]

Answer:

a translator for an international hotel in Las Vegas would be what I'd put.

7 0
3 years ago
Read 2 more answers
Other questions:
  • A bank agrees to lend via simple loan $100 today to Thomas. The agreement is based on that the yearly interest rate is 15%. If T
    15·1 answer
  • The company’s CEO repeatedly says that "employees are our most important resource," but many managers treat employees disrespect
    12·1 answer
  • What is the Best way to conduct a survey?
    9·2 answers
  • The journal entry a company records for the payment of interest, interest expense, and amortization of bond discount is debit In
    11·1 answer
  • If a journal entry and posting for the use of one month of rent from the prepaid rent account during the year is accidently omit
    7·1 answer
  • 40 POINTS!! Decorative text available to include in a document is known as _____.
    6·2 answers
  • Sales and cost data are promising internal secondary data for many research problems. In B2B contexts, the______ is a gold mine
    11·1 answer
  • Quest
    6·2 answers
  • Karla is working in Microsoft Excel, and she needs to copy data from one spreadsheet into another. The cells she wants to copy c
    12·1 answer
  • Which 3 data points can be imported into the app transactions tab in quickbooks online?.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!