The passage reveals which of the following trends from the period 1200 to 1450?
1 answer:
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Answer:
Well, you can take the example of different genres of music. One person might like pop while others might be more interested in country, jazz, hip hop etc. So, what seems good for one might not seem good for others due to their tastes in different things.
The nation that has the absolute advantage in peanuts is India.
<h3>How to solve for the absolute advantage of these countries</h3>a. The country that has the absolute advantage in the pounds of peanuts is India. They are able to produce 10 million worth of the product.
b. This is in the attachment
c. From the calculated opportunity costs, India has been shown to have the comparative advantage in peanuts so they have to specialize here.
The US on the other hand has to specialize in pecans because they have the comparative advantage in it.
d) The PPC for each country is a diagram
e. ) The terms of trade would be a pound of peanut for a pound of pec an for the countries.
Based on this the US would produce 10 units for pecans. They would use 5 units and exchange the remaining 5 units of pecans for 5 units of peanuts from India.
India is also going to do likewise.
Read more on production possibility curve here:
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