Match the given descriptions to the terminology that could be used to define them.
assumption...
Social Studies, 19.08.2019 05:30 randomh
Match the given descriptions to the terminology that could be used to define them.
assumption in trade
absolute advantage
comparative advantage
specialization in trad
country a produces a certain good in abundance
and sells it at a cheaper rate to other countries.
country b produces a good with a lower opportunity
cost than another good.
country a has superior resources to produce a good
more efficiently.
countries a and b have a free flow of labor across their
borders.
Answers: 3
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