Suppose both john and bill can do two tasks in a day. if john can do each of the two tasks faster than bill, then <u>John should specialize in performing the task for which he has a </u><u>comparative advantage</u><u>. </u>
Comparative advantage refers to the capacity to provide goods and offerings at a lower possibility price, not always at a greater quantity or satisfactory. Comparative gain is a key perception that trade will still occur even though one u . s . has an absolute gain in all products.
In an economic model, retailers have a comparative advantage over others in producing a selected desirable if they can produce that excellent at a lower relative opportunity price or autarky rate, i.e. at a decrease relative marginal price previous to trade.
In economics, a comparative advantage occurs when a country can produce a very good or carrier at a lower opportunity value than another u . s .. The principle of comparative gain is attributed to political economist David Ricardo, who wrote the book standards of Political economic system and Taxation (1817).
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The best answer is a!
the raw materials, tools and factories are also influenced by this, indirectly, as the cheapest and most effective ways usually win. But the most direct influence is on the type and number of produced goods.
Provide laws so that the world is somewhat i order even though those laws may be broken. if so there’s punishment.
hope this helps, that’s only something short i could think of
Explanation:
<u>Philadelphia Convention.</u>
