What is absolute advantage What is comparative advantage under what conditions does comparative advantage lead to gains from trade?

Answers

Answer 1

Absolute advantage in economics refers to a party's capacity to deliver a good or service more effectively than its rivals. Adam Smith, a Scottish economist, originally introduced the idea of absolute advantage in 1776 while discussing international trade and utilizing labor as the sole input.

What is economics?

The term Economics is the study of scarcity and its inferences for the use of resources, manufacture of goods and services, growth of production and welfare over time, and a great diverseness of other complex issues of vital concern to society.

The economic tenet of absolute advantage states that one firm can produce and distribute the same items more effectively than another company. It speaks of the output of an organization. A company's design and manufacturing processes may be more effective if it has more access to resources.

Therefore,  In the field of economics, the ability to provide a good or service is known as an absolute advantage.

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Related Questions

Type the correct answer in the box. Spell all words correctly.
What is the purpose of the US government?
According to the Preamble of the Constitution, the US government was established to promote---------the and secure the blessings of liberty.( fill in the blank)

Answers

Answer: to enforce the laws and create the laws

Explanation:

Answer:

to promote (general Welfare) and secure the blessings of liberty

Which organization did African-Americans help form throughout the South during Reconstruction

Answers

The freedmen Bureau (if I am wrong sorryyy)

Which statement about the Sahel is true?
A. It has plentiful grasses to support grazing livestock.
B. It receives about 200 inches of rain per year.
C. It is a dry area with few shrubs and plants.
D. It is filled with broad-leaved evergreen trees.

Answers

Answer:

the correct answer is A

Explanation:

got it right!!!!!

(I WILL MARK YOU BRAINLIEST IF YOUR ANSWER IS CORRECT) How did the crusades affect European monarchies?
A. Most European monarchs died while fighting in the crusades.
B. Many European Monarchs converted to Islam after the crusades.
C. The Crusades reduced the power of European monarchs
D.The Crusades increased the power of European monarchs

Answers

Answer:

D.) the crusades increased the power of European monarchs

What was the cause of labor reform movements in the early 1800s

Answers

Answer:

The labor movement in the United States grew out of the need to protect the common interest of workers. For those in the industrial sector, organized labor unions fought for better wages, reasonable hours and safer working conditions.

Can you pls do this for me

Answers

Answer:

"Do you ever wonder where cats go when they die?" queried Bradly.

Explanation:

I'm pretty sure this is right but I may still be wrong.

Answer:

"Do you ever wonder," queried Bradly, " Where cats go when they die?"

Explanation:

also who spells Bradley without an e

Why economics is considered as a social science? (answer it in your own words)​

Answers

Answer:

economics means production of goods manufacturing and distributing

it means how business takes place so its important for business and governments

hope it helped

Economics is regarded as a social science because it uses scientific methods to build theories that can help explain the behavior of individuals, groups and organizations. Economics attempts to explain economic behavior, which arises when scarce resources are exchanged.

Can anybody please help me out???

Answers

I believe it is the right to carry out your own justice. Please tell me if I’m wrong.

Drag each tile to the correct box.
Match each nongovernmental organization with the correct description of how it uses people's donations.

to provide health care to people in conflict zones and poverty-stricken areas
to fight for the rights of the wrongfully imprisoned
to provide disaster relief around the world
to support environmental causes
Amnesty International
arrowRight
Greenpeace
arrowRight
Red Cross
arrowRight
Doctors Without Borders
arrowRight

Answers

Answer:

Amnesty International - fight for the rights of the wrongly imprisoned (number 2)

Greenpeace - to support enviromental causes (number 4)

Red Cross - disaster releif (number 3)

Doctors Without Border - provide health care... (number 1)

Explanation:

Hope this helps!

Which SE Asian country is closest to having a pure command economic system? *

Answers

Answer:

North korea

Explanation:

i don't know

Answer:

North Korea

Explanation:

https://www.enotes.com/homework-help/what-countries-use-command-economies-515825

Also looking at the wprld map you would see that north korea is a long the SE part of the world

I need help asap what is a who or what

NO LINKS

Answers

Who : Martin Luther King jr.

What: his belifs and how he changed the world

Details:

Martin Luther King, Jr., original name Michael King, Jr., (born January 15, 1929, Atlanta, Georgia, U.S.—died April 4, 1968, Memphis, Tennessee), Baptist minister and social activist who led the civil rights movement in the United States from the mid-1950s until his death by assassination in 1968. His leadership was fundamental to that movement’s success in ending the legal segregation of African Americans in the South and other parts of the United States. King rose to national prominence as head of the Southern Christian Leadership Conference, which promoted nonviolent tactics, such as the massive March on Washington (1963), to achieve civil rights. He was awarded the Nobel Peace Prize in 1964.

The King family had been living in Montgomery for less than a year when the highly segregated city became the epicenter of the burgeoning struggle for civil rights in America, galvanized by the landmark Brown v. Board of Education decision of 1954.

The data could be used to support which conclusion?
A.Gulf Coast states had to rely on steamboats to transport goods
B.States in the lower South had more land devoted to plantations
C.Border states had to import needed raw materials
D.States in the upper South were heavily industrialized ​

Answers

Answer:

D. States in the lower South had more land devoted to plantations.

Explanation:

How might natural barriers, like mountains or bodies of water, have contributed to the development of different cultures throughout the city-states of Ancient Greece?

Answers

The correct answer to this open question is the following.

Although there are no options attached we can say the following.

Natural barriers, like mountains or bodies of water, contributed to the development of different cultures throughout the city-states of Ancient Greece in that these ancient Greeks had to develop the knowledge and agriculture techniques to grow crops under difficult circumstances due to mountain ranges, rivers, lakes, and basically, the sea,

These ancient Greek people had to implement other resources in order to survive, as was the case of fishing and trade, exploring navigational routes to take their products to other regions.

City-states that were located inland, had to raise cattle and farm under different circumstances to grow and prosper.

Among the most important geographical features that existed in ancient Greece, we find the Aegean Sea and Mount Olympus.

Which of the following is a difference in the outcome of the distribution of seats in the United Kingdom and
Nigeria in 2018?
O In the United Kingdom the Labour Party was part of the ruling government, and in Nigeria the APC was part of the ruling
government
O A minority coalition government ruled in the United Kingdom, and a single-party majority government ruled in Nigeria
The majority party in each country formed a government
O In both countries small parties received a large percentage of the vote but received relatively few seats.

Answers

Answer:

O A minority coalition government ruled in the United Kingdom, and a single-party majority government ruled in Nigeria

As you read the following scenario, think about how the government is involved in what Kimberly uses and
encounters.
Kimberly has just left her job after a long day and is heading to the airport to go out of town for the weekend.
She gets in her brand-new car and heads for the interstate. As soon as she gets on the interstate, she realizes
that there is more traffic than usual. So, she turns
on the radio to hear the traffic report. Later, she realizes that
she's running out of fuel and stops at a gas station. She uses her credit card to pay for the gas. Expecting more
traffic, she runs into the gas station and buys bottled water by paying cash. She reaches the airport barely on
time and quickly goes through the security checkpoint. Finally, she boards the plane and, given her hectic day,
falls asleep before takeoff.
List all the ways the government was involved in Kimberly's evening activities.

FROM PLATO ECON

Answers

Answer:

In this particular activity, Kimberly encountered various things and services controlled by the government in various ways.

The airport is under the aviation department of the government

A new car is personal property that is protected under government property rights.

The government provides public goods, such as highways so the interstate road is under this

The Federal Communications Commission regulates airwaves and spectrum for TV and radio. the government ensures consumer protection such as credit card information.

The government issues currency so cash is also a government asset.

Fuel is also regulated by petroleum authorities of the government. The Food and Drug Administration regulates bottled drinking water.

The Federal Aviation Administration regulates commercial aviation controls air flight. The Transportation Security Administration manages national security such as airport security

One possible answer may look like this:

new car—The government protects her property rights.
interstate—The government provides public goods, such as highways.
radio—The Federal Communications Commission regulates airwaves.
credit card—The government ensures consumer protection.
cash—The government issues currency.
bottled water—The Food and Drug Administration regulates bottled drinking water.
airport security check—The Transportation Security Administration manages national security.
airplane flight—The Federal Aviation Administration regulates commercial aviation.

Edmentum sample answer

which map best represents georgia legation in the southern united states

Answers

Answer:

Georgia is located in the southern hemisphere on the north American continent.

Explanation:

Proper legal procedure, like having a fair trial, is called _____________.

Answers

Answer:

I think it is called "due process."

How does the amount of oil reserves held by the Middle East compare to that of the rest of the world, based on this graph?

Answers

Answer:

Based on the graph, the amount of oil reserves held by the Middle East compares to the rest of the world because the Middle East holds the most oil reserves.

Explanation:

The amount of oil reserves held by the Middle East, according to the percentages given in the graph, is significantly higher than that of the rest of the world. The Middle East holds 59% of the world's oil reserves, which is more than the combined amount held by all other regions listed in the graph.

State reasons that Middle East holds large amount of world's oil reserves?

The Middle East holds a large amount of the world's oil reserves for a few reasons.

First, the region has been producing oil for a long time, with some of the earliest oil discoveries made in the Middle East.

Second, the geology of the region is favorable for oil production, with large deposits of oil located in relatively small geographic areas.

Third, political factors have played a role in oil production in the Middle East, with many countries in the region nationalizing their oil industries and controlling production to maximize their economic benefits.

Finally, the high demand for oil around the world has led to ongoing exploration and development of new oil fields in the Middle East, which has contributed to the region's large reserves.

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Where do a majority of the tobacco farmers live in Southern Africa?

Answers

Answer:

I would say Malawi because Southern Africa's biggest tobacco imports are from there

Explanation:

Who ruled the early city-states of Greece?

Answers

Answer:

Alexander the Great ruled the early city-states of greece!

Explanation:

I NEED HELP PLSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
Do you think that if a person if tried for a criminal crime that they should also be tried in a civil court as well? Why or why not? Think through questions such as if a person is convicted of a crime and sentenced to time in jail is that sufficient punishment or should they also have to face consequences in a civil court?

Answers

Answer:

no they should not , civil cases only are small cases, for example in a civil court divorces are heard, money debts, house evictions. crime cases are more serious for example homicides or thefts, it would not make sense to charge someone with a serious crime and be tried in civil court. this can also avoid double jeopardy, im a civil court they can get convicted of a crime which can maybe be the same crime in criminal cases however they can be called differently.

"The second world war was inspired by the feeling of revenge". Justify the statement on the basis of causes in seven points.​

Answers

Answer:

Yes.

Explanation:

Yes, the second world war was inspired by the feeling of revenge because in the first world war, very strict rules were applied on the Germany by the other nations and Germany lost its many territories. So that's why the Germany started the second world war to regains its land and to rule over the European countries. The main causes of second world war are the impact of the Treaty of Versailles after first world war, the worldwide economic depression, failure of appeasement, the rise of militarism in Germany and Japan, and the failure of the League of Nations to maintain world peace.

all of the following are American victories EXCEPT :
a.trenton
b.siege of boston
c.yorktown
d.bunker hill​

Answers

D. the british defeated the Americans.

18. Paris tends to view personality as fairly stable and therefore her personality is more stable, whereas Lane
tends to view personality as fairly changeable and therefore her personality is more changeable. These
differences in attitudes and personality are most consistent with the


need help asap☝

Answers

Answer: social cognitive view of personality

Explanation:

Earths structure


what is the best definition for crust and best sentence

Answers

Answer:

The solid outer shell of the earth, with an average thickness of 30–35 km in continental regions and 5 km beneath the oceans, forming the upper part of the lithosphere and lying immediately above the mantle is called crust.

What event became known as the Glorious Revolution? Text to speech
a
Slaves rebelled and escaped to freedom.
b
African leaders ended slave trade with Europeans.
c
Parliament was formed with the cooperation of the king.
d
The king was overthrown and Parliament retained lawmaking powers.

Answers

Answer:

its D

Explanation:

A loan that is backed by collateral is __________. A. secured B. high interest C. unsecured D. interest free Please select the best answer from the choices provided A B C D

Answers

Answer:

A

Explanation:

My answer is right because the loan paid by force that if it is not paid the loaner would still have the collateral so he is secured about his payment

A loan that is backed by collateral is secured. Therefore option A is correct.

What is Loan?

A loan is a type of deficit that a person or other entity incurs. The lender advances the borrower a certain amount of money, typically on behalf of the industry, financial institution, or government. The borrower accepts a specific set of terms in return, which may include any financial costs, interest, a repayment schedule, and other requirements.

Before any money is sent, the lender and borrower must agree on the terms of the loan. The loan document will specify any instances where the lender may ask the borrower to pledge an asset as security. A mortgage is a frequent loan taken by American households to pay for real estate.

In addition to secured and unsecured loans, conventional loans also come in open-end and closed-end varieties.

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During her annual review, Susan admitted to her supervisor that she is more productive in a quieter environment. The openness of her office setting and the recent increase in staff that came to her for training made it difficult for her to process as many insurance claims in one day as she had accomplished in the past. The supervisor agreed to move Susan's desk to the back of the office, and create a barrier with plants. The supervisor would take a more active role in training new employees, so they would not be coming to Susan with questions. In HR, we refer to this action as creating ___________.

Answers

Answer:

The answer is "accommodations".

Explanation:

In this situation, the HR calls this intervention accommodation, since employees can do the same activities as their non-LD counterpart but also with a certain time, layout, environment, or display shift. The purpose of accommodation would be to allow employees to learn and demonstrate how they understand and could do. Throughout the supervisor, they decided to move the Susan office back to the station and to build a plant barrier. In preparing new hires that supervisor would be more involved.

How are the concepts of race and ethnicity the same?
A. They are ways of categorizing people.
B. They are based on genetic patterns.
C. They are based on physical traits.
D. They are ways of socializing people.

Answers

A. They are both ways of categorizing people

volcanoes are described according to their shape and type of eruption​

Answers

Answer:

Definition: A volcanic eruption occurs when magma is released from a volcano. Volcanic eruptions can be quite calm and effusive, or they can be explosive. Effusive eruptions produce lava flows, while explosive eruptions produce ash and pyroclastic density currents.

Explanation:

Definition: A volcanic eruption occurs when magma is released from a volcano. Volcanic eruptions can be quite calm and effusive, or they can be explosive. Effusive eruptions produce lava flows, while explosive eruptions produce ash and pyroclastic density currents.

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