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Phantasy [73]
4 years ago
6

Jiang wants to sell his products manufactured in his country to Consumers and several other Asian countries this will involve hi

m in international trade what needs to be in place so Jiang can accurately determine the price of his products in these other nations
Social Studies
1 answer:
vichka [17]4 years ago
6 0
The answer to this question is <span>a system for exchanging currencies between countries
By creating the system for exchanging currencies, both parties involved in the trade could detemrine a fair pricing that wouldn't defect each or both parties during the trade so the value that they would receive would be pretty much the same if compared to the local trades</span>
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A firm in monopolistic competition does not take full advantage of its economies of scale because it's the only oferent of a good. A firm in perfect competition produces at the lowest average cost possible.

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wu xing Chinese philosophy used color as a symbolic element to explain how change affects the cosmos.

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The most important schools of Chinese philosophy are Confucianism: This school developed from the teachings of the wise man Confucius (551 BC - 479 BC) and is summarized in the Analects of Confucius. It is a system of moral, social, political, and quasi-religious thought, and its influence extends to South Korea and Japan.

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1) The main factors of production, which are: Land, Capital, Labor, and Entrepreneurship. These factors of production are related to the need to specialize in a particular goods, because the opportunity cost of production determines how convenient it will be for an entrepreneur to specialize in that good. For instance: when the opportunity cost for producing a particular goods is low in a place, more people tends to specialize in such business.

2) Specialization; which is to master in a particular goods, is related to trade because, when more people specialize in a particular goods, it will reduce the price of such goods. And when less people specialize in a particular goods, it will make the goods scars, thereby increasing the price of the goods. This is in accordance to principles of economics which states that, increase in supply; decrease in price. Decrease in supply; increase in price.

3) The law of comparative advantage describes that a country will make more profit, if they export a particular goods, which cost of production is very low at the country, to a country where the cost of production is very high, and sell the goods at such country, to so many other countries.

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