Nation engage in external trade because of difference in<...
Nation engage in external trade because of difference in
Comparative cost
Absolute cost
Fixed cost
Variable cost
Correct answer is A
Comparative cost advantage is a reason for nations engage in external trade. The principle of comparative cost advantage was propounded by David Ricardo.
A good measure of the standard of living usually used for international comparison is______ ...
If ˉx = 6 and N = 6, determine the value of ∑fx ...
The largest employment sector in a typical West African country is ...
A profit maximizing monopolist should produce within the range where his demand is ...
When a country's net income from abroad is added to its total output, the result is ...
Excise duties are taxes levied on ...
When price is set below equilibrium, this will lead to ...
To protect farmers during a bumper harvest, the government usually ...
From that table above, the price elasticity of supply is ...
A Nigerian household demand curve for semovita is downward sloping because ...