Answer:
D. It is too general
that is the correct answer ok.
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Answer:
Laura can write more papers than Lisa, but Lisa has a low opportunity cost to doing so.
Explanation:
Absolute and comparative advantage are important concept in the field of economics and trade. These concepts are used to explain the basis of foreign trade.
Absolute advantage refers to the situation when an economic agent can produce a product at better quality, faster and earn more profit than its competitor. It looks at the efficiency of producing a single good or service.
Comparative advantage takes into account the opportunity cost of producing a good or service. The opportunity cost is the cost of sacrificing the alternative.
Absolute advantage means Laura can write more papers than Lisa, but since Lisa has a comparative advantage she has a low opportunity cost to doing so.
Answer:
Explanation:
Elizabeth should concentrate on making pie because she has a comparative advantage over Benjamin in pie making while Benjamin has comparative advantage in cake baking.
According to the Ricardian model of comparative advantage, countries should concentrate in the production of goods they have comparative advantage in making and exchange or import goods they do not have comparative advantage in making. This is the basis of trade between nations according to the Ricardian model.
Shantytowns were the shacks which were built by the destitute and homeless people in America.
Explanation:
These Shantytowns were named as Homerville’s because Herbert Hoover was the president who left the country get into the clutches of depression and he did not take necessary steps that paved way for development. It was the encampments that were built from the shacks and other waste materials by the impoverished and unemployed people during the time of great depression.
Bothe blacks and whites and other immigrants lived conjointly which integrated everyone beyond race and ethnicity.
