Explain how other trade theories were an improvement over the Absolute

1.	Explain how other trade theories were an improvement over the Absolute cost advantage theory.
Answer» $\red{\large{\underline{\underline{ \rm{✮Answer:}}}}}$ In economics, ABSOLUTE advantage refers to the capacity of any economic Smith ALSO used the concept of absolute advantage to explain gains from free TRADE in the critics of the concept, came up with their own theories to counter mercantilis. costs, regulations favoring one industry TAKE away resources from another

Explain how other trade theories were an improvement over the Absolute cost advantage theory.

Answer»

$\red{\large{\underline{\underline{ \rm{✮Answer:}}}}}$

In economics, ABSOLUTE advantage refers to the capacity of any economic Smith ALSO used the concept of absolute advantage to explain gains from free TRADE in the critics of the concept, came up with their own theories to counter mercantilis. costs, regulations favoring one industry TAKE away resources from another

Discussion

No Comment Found

Related InterviewSolutions

DIOshowsdalaThe followingcarsnumberacarutimanufactured byfaedarzeashelp ofTata kotona2016-17Reprecentpie Ciagamseduchincass (2)shout naps on cos whomaenti15, 75, oroTalaluctos7,25,oooHyundai5, 50,000
Write names of some important index number.
What do you mean by explicit cost? Are the following included in it?1) Payment of wages to employees of the firm.2) Wages for entrepreneurs own labour.3) Depreciation Cost.4) Rent of entrepreneurs own building.5) Payment of electricity bill.Don't Spam❌
What are the techniques for measuring correction ?
What is data represented in tabular presentation?what are parts of a table?
If we increase the retention rate, than the price of the share will increase or decrease?
Oston 14 of 30In the assembly line balancing, cycle time (the ratio of available production time to scheduled production) is the
Why does each country need a representative on the World Stage? Why do countries need to collaborate and help each other? What do you think are the benefits of doing so?
America is called the "Melting Pot". Why do you think we have earned that nickname? What are the benefits of diversity within our country?
. For the circuit shown in Figure below, calculate the following:(Marks 12)(a) Total resistance across the source(b) Total current from the source(c) Current through 910 Ωthe resistor (d) Voltage from A to point B

Explain how other trade theories were an improvement over the Absolute cost advantage theory.​

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment

Explain how other trade theories were an improvement over the Absolute cost advantage theory.