Answer:
its cost is least in terms of alternative goods that might otherwise be produced
Explanation:
Comparative Advantage
This is simply explained as when an individual has an opportunity cost of performing a task is lower than the other individuals opportunity cost that is it is more efficient. It is the usual fundamental basis for international trade. Its principle includes production at a maximum peak to be achieved if each individual focus on the job or activities for which his or her opportunity cost is lowest.
Opportunity Cost
This is simply known as the highest valued of an alternative that must be given up so as to be involved or engage in an activity/job or task. There are several sources of a comparative advantage. They includes;
1. Climate and natural resources
2. Relative abundance of labor and capital
3. Technology
4. External economies etc.
Answer:
el costo de oportunidad es el costo de la alternativa a la que renunciamos una determinada decisión incluyendo los beneficios que podríamos haber obtenido de haber escogido la opción alternativa
Hey! How are you? My name is Maria, 19 years old. Yesterday broke up with a guy, looking for casual sex.
Write me here and I will give you my phone number - *pofsex.com*
My nickname - Lovely
Structural:
A given set of skills is not needed by an economy, so people with those skills cannot find employment
Frictional:
When people are in a set period of unemployment whilst they wait to get a job that is already secured, or when people are looking for their first job
Seasonal:
When there is unemployment as the jobs only exist at certain times of the year (e.g. retail jobs at Christmas)
Cyclical:
When the growth of the economy has slowed and there is no demand for the production of the workers at all
