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The famous phrase said by former British prime minister Neville Chamberlain after meeting Adolf Hitler in Munich (1938) and accepting his promises of no more aggression, has come to symbolize appeasement: "Peace in our time."
Explanation:
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If the opportunity cost of producing a particular good is lower for one producer than another, the former producer has comparative advantage for producing the good.
Explanation
A comparative advantage occurs when a producer is able to produce goods by using fewer resources at a lower opportunity cost. Increasing the production of one good will mean that less goods for another can be produced. This theory is advantageous in free trade because a producer can be able to realize higher output gains by selling goods in which he or she enjoys comparative advantage.
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The New Stone Age, the time period after the Paleolithic Era, marked by the use of tools
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