Society's standard of living will likely increase if True
<h3>What is Comparative advantage?</h3>
Is TRUE that If a society's production possibilities frontier shifts to the right, the society's standard of living will likely increase?
Export goods in which it has a comparative advantage.
Comparative advantage is when someone produces something more cheaply than other competitors in the same market as the firm; however, comparative advantage is not the same as being the best at something.
In this case, a society's standard of living will probably rise if the frontier of its production possibilities shifts to the right.
Products in which it has a competitive advantage are exported.
In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to a trade.
To learn more about comparative advantage, refer
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Answer:
This is an example of a family bussiness.
Answer: An orthopaedic surgeon, Dr Piyush Thakur observed that the two main benefits of Chhath rituals are detoxification of the body and synthesis of vitamin D by standing before the sun.
Explanation:
Yes and no. The Korean war had cost many lives for both sides. It was a tug of war between both sides. We push the North all the way back almost completely into China and they pushed us into the Pusan Perimeter. It was our real test to contain Communism. If we didn't enter the war, Korea would've ended up like Vietnam.
Answer:
Cohort effect
Explanation:
When there is a variation in a characteristic of an area of study over a span of time which have other factors or characteristics same it is called cohort effects.
Here, the people who witnessed the shooting directly have been shown to have intense fear, anxiety, and depression which is known as the cohort effect. They all have the experience of witnessing the shooting in common.
