1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VARVARA [1.3K]
3 years ago
5

Which of the following is true about absolute advantage principle? According to this approach, enhanced product specialization a

dversely affects communal welfare. This is the only approach that can be used to explain why nations attempt to run a trade surplus. This approach allows the nation to consume more than it otherwise could, generally at lower cost. This approach explains the process by which firms acquire and retain one or more value-chain activities inside the firm.
Social Studies
1 answer:
sladkih [1.3K]3 years ago
3 0

The correct answer is This approach allows the nation to consume more than it otherwise could, generally at lower cost.

The term "classical trade theories" refers to the theories that emerged from debates in the second half of the 18th century that sought to systematize the functioning of international trade and therefore influenced the modern economy. Until that time, the knowledge that was possessed about foreign trade had its origin in the documents prepared by thinkers of the mercantilist school, which justified international trade by the opportunity that it offered to obtain a surplus in the trade balance. Central objective was the trade surplus, which should be achieved at any cost. Thus, to supplant the old and already obsolete mercantilist concepts, theories of thinkers emerge in the nascent branch of the economy, such as Adam Smith, David Ricardo and John Stuart Mill.

Smith, in a work originally published in 1776, developed the theory of absolute advantages as the basis of international trade. The absolute advantage obtained by a given nation, of a given good, results from greater productivity, or, in other words, using a lesser amount of input to produce that good at lower costs. Smith thought that it was not always necessary for a country to obtain foreign trade surpluses for international trade to be advantageous, and that voluntary exchanges between countries could benefit all those involved in the operation. This last idea represents an important breaking point with all mercantilist logic. There is no need to seek a surplus in trade forever and ever.

You might be interested in
In ________ patrol, officers are given guidance on how to use their patrol time, which is often based on the results of crime an
Scrat [10]

Answer:

The correct answer to the following question will be "Directed".

Explanation:

  • Directed patrol is a technique used throughout remote or troubled locations among law enforcement authorities to find a way to reduce either keep people safe.
  • This is sometimes made based on the results of the case or violence analysis which focuses on areas of issue.

Guidance is issued to either the officers or agents on using their patrol period. Therefore, it's the right answer.

8 0
2 years ago
Texicans organizing themselves to influence government is
neonofarm [45]

Texicans organizing themselves to influence government is a Fundamental right.

There are <u>four types of rights:</u>

  1. Legal rights: They come from other acts of legislation.
  2. Fundamental rights: They are provided in the constitution.
  3. Human rights
  4. Cultural rights

The <u>Fundamental rights</u> include the following:

  • Right to liberty
  • Right to self-determination
  • Right to freedom of movement
  • Right to due process of law
  • Right to freedom of thought
  • Right to freedom of religion
  • Right to freedom of expression
  • Right to freedom of association
  • Right to freedom of assembly

In this particular case, Texicans are using their <u>right to freedom of assembly</u>, which is defined as: The right of people to <u>collectively express and pursue their shared ideas</u>.


3 0
3 years ago
Firms benefit in many ways from increased productivity. What is one of the ways consumers benefit when firms increase their prod
True [87]

Answer: The goods have a better quality

Explanation:

The quality of a product is down to how well and painstakingly the producer takes his time to work on what he's selling. An organization which invests much more time into productivity will offer a better product than that which offer lesser time to producing. When more time is involved in productivity, the customer gains with a quality product.

4 0
3 years ago
What law placed taxes on tea, paper, glass, and coloring for paint?
Olegator [25]

Answer:

Townshed act/Townshed Duties

Explanation:

 

7 0
3 years ago
What features of the nomads’ culture and society rendered them ideal agents for transmitting technology, trade goods, crops &amp
Gemiola [76]

Nomads were the peoples who use to move from place to place by following animal voyages and vegetable cycles to find food. Nomadic culture and society apparently important because they manifest non-progressive development. Basically, Nomads are divided into three categories a. nomadic hunter-gatherers b. pastoral nomads c. Trader nomads.

The technology of Nomadic pastoralism is mainly animal husbandry, horticultural by the use of agrarian technology. Normally, this practice includes a good deal of knowledge about animal husbandry and land transportation technology. Whereas Trader nomads involved in small trading activities from one place to other which includes the trade of crops and goods. As these nomads use to wander from one place to another they use to exchange the cultural pattern such as technology, goods, crops with the inhabitants of that areas. Such exchange also results in a transmission of disease from one zone to other with these nomads.






4 0
3 years ago
Other questions:
  • The constructivist/deconstructivist method of engaging international studies requires that students utilize self-reflection to a
    10·2 answers
  • Children’s written experiments are important because they
    12·1 answer
  • THIS IS VERY URGENTplease help, very ez, will brainly u
    14·2 answers
  • If you went door-to-door with a petition trying to get enough signatures for a proposal to be voted on by citizens, what form of
    10·1 answer
  • Ivan has made watercolor paintings for years. When he gets lost in his work, hours can go by without his notice. He can start in
    7·1 answer
  • Sun-dried brick used to make some a
    13·1 answer
  • The class slides are posted and please read the article on Unconscious Bias, it's titled "How Unethical are You?" Be prepared to
    14·1 answer
  • Easy point, how many questions do I have to answer to be able to chat with people?
    5·1 answer
  •  ¿Cómo la biodiversidad se relaciona con los alimentos y la salud de las personas?
    10·1 answer
  • African americans used religious traditions such as pentecostalism to encode messages about?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!