Which of the following describes the reason for internati...
Which of the following describes the reason for international trade
Balance of payment
Comparative cost advantage
Absolute cost advantage
Balance of trade
Correct answer is B
Comparative advantage is an economic term that refers to an economy's ability to produce goods and services at a lower opportunity cost than that of trade partners. Countries mainly enter into international trade to buy goods and services that they would normally produce at a higher cost compared to buying it from another country that is producing it a relatively low cost
which of the following is a feature of co-operative society? ...
A clean bill of leading is so-called because? ...
A document showing that a person has shipped certain goods through a named ship is ...
A place where dutiable goods are kept until duties on them are paid is known as ...
The following factor must be considered before setting up a retail business except? ...
Which of the following is a disadvantage of the use of teleprinters in communication? ...
The winding up of a firm by a resolution of its shareholders is an example of ...
One roof containing a number of shops is a ...
The coming together of two or more companies to form one big viable company is known as ...