0
A nation is said to have a comparative advantage when it is able to?
Wiki User
∙ 13y ago
produce a product at a lower price than other nations.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Why is the east said to have a comparative advantage in producing oil?
The east has a comparative advantage in producing oil because it has fewer labor costs. American workers in oil production are paid a premium because of the dangerous and technical nature of the field.
Difference between Competitive Advantage and Comparative Advantage?
Comparative advantage (of a country or firm, for example) is *given* by the access to certain resources that others don't have. Usually this is related to natural resources. I say "access" because it doesn't matter if you are or are not the owner. On the other hand, competitive advantages are *created* by combining different resources, primarily knowledge. In management this is equivalent to "rise barriers" for competitors, in the sense that a true competitive advantage is that one that is difficult to be copied by the competitors (although not impossible.) Due to the nature of the comparative advantages, it is usually said that they provide you a "static" advantage, something that others can surpass by using their competitive advantages, which are said to be "dynamic." Feel free to make corrections to my answer.
Productive and comparative advantage in developing countries?
Not really sure what you are asking, but in general developing countries have not achieved economies of scale in most markets and therefore do not have a comparative advantage over other countries producing the same goods. What they sometimes will do is setup a tariff on importing those types of goods from the country with economies of scale so that they can get some more business from within their own country, build up and will in time be able to compete globally. Later they abolish the tariff and hopefully the price of said good goes down for all with another competitor in the marketplace.
How can food processing help in the economy of your country?
A nation's economy can be helped by the development of industries that use a principle called competitive advantage. If the cost to the nation (in terms of what it must give up to perform the tasks of that industry) are lower than those in economies with which it might trade, that nation is said to have competitive advantage. The industry will then stimulate beneficial trade for the nation processing the food. In the current global economic environment, industries that are labor intensive, such as food processing, can be good candidates for this beneficial trade.
What did Adam smith said real wealth of a nation was measured by what?
Money
Why is the east said to have a comparative advantage in producing oil?
The east has a comparative advantage in producing oil because it has fewer labor costs. American workers in oil production are paid a premium because of the dangerous and technical nature of the field.
Difference between Competitive Advantage and Comparative Advantage?
Comparative advantage (of a country or firm, for example) is *given* by the access to certain resources that others don't have. Usually this is related to natural resources. I say "access" because it doesn't matter if you are or are not the owner. On the other hand, competitive advantages are *created* by combining different resources, primarily knowledge. In management this is equivalent to "rise barriers" for competitors, in the sense that a true competitive advantage is that one that is difficult to be copied by the competitors (although not impossible.) Due to the nature of the comparative advantages, it is usually said that they provide you a "static" advantage, something that others can surpass by using their competitive advantages, which are said to be "dynamic." Feel free to make corrections to my answer.
Productive and comparative advantage in developing countries?
Not really sure what you are asking, but in general developing countries have not achieved economies of scale in most markets and therefore do not have a comparative advantage over other countries producing the same goods. What they sometimes will do is setup a tariff on importing those types of goods from the country with economies of scale so that they can get some more business from within their own country, build up and will in time be able to compete globally. Later they abolish the tariff and hopefully the price of said good goes down for all with another competitor in the marketplace.
How can food processing help in the economy of your country?
A nation's economy can be helped by the development of industries that use a principle called competitive advantage. If the cost to the nation (in terms of what it must give up to perform the tasks of that industry) are lower than those in economies with which it might trade, that nation is said to have competitive advantage. The industry will then stimulate beneficial trade for the nation processing the food. In the current global economic environment, industries that are labor intensive, such as food processing, can be good candidates for this beneficial trade.
When the value of a nation imports exceeds the value of that nations exports the nation is said to have?
When nation's value of imports exceeds the value of its exports, it can be said that the nation has a trade deficit.
Tom delay said that a nation without partisanship would be?
Tom DeLay said that a nation without partisanship would be tyranny.
Who said America is a Prozac nation?
I did. My book, Prozac Nation, was published in 1994
What was the new nation the rebels said they were going to create?
bear flag nation
How are Americans a nation of joiners?
Alexis de Tocqueville said we are a "nation of joiners"
Why is the us referred to as the nation of joiners?
Alexis de Tocqueville said we are a "nation of joiners"
What advantage of reforestation?
because your mama said so
What is the advantage of a haploid bevel gear?
it smaller that what she said
