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Nisha Sharma posted an Question
July 01, 2021 • 00:31 am 30 points
  • UGC NET
  • Commerce

Mam please explain comparative cost advantage theory by giving some examples

mam please explain comparative cost advantage theory by giving some examples

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    Ronak kumari upadhyay

    It can be argued that world output would increase when the principle of comparative advantage is applied by countries to determine what goods and services they should specialise in producing. Comparative advantage is a term associated with 19th Century English economist David Ricardo.\n\nRicardo considered what goods and services countries should produce, and suggested that they should specialise by allocating their scarce resources to produce goods and services for which they have a comparative cost advantage. There are two types of cost advantage \u2013 absolute, and comparative.\n\n\nAbsolute advantage means being more productive or cost-efficient than another country whereas comparative advantage relates to how much productive or cost efficient one country is than another.Here an example check the attachment

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    Ronak kumari upadhyay

    It can be argued that world output would increase when the principle of comparative advantage is applied by countries to determine what goods and services they should specialise in producing. Comparative advantage is a term associated with 19th Century English economist David Ricardo.\n\nRicardo considered what goods and services countries should produce, and suggested that they should specialise by allocating their scarce resources to produce goods and services for which they have a comparative cost advantage. There are two types of cost advantage \u2013 absolute, and comparative.\n\n\nAbsolute advantage means being more productive or cost-efficient than another country whereas comparative advantage relates to how much productive or cost efficient one country is than another.Here an example check the attachment

  • comment-profile-img>
    Ronak kumari upadhyay

    It can be argued that world output would increase when the principle of comparative advantage is applied by countries to determine what goods and services they should specialise in producing. Comparative advantage is a term associated with 19th Century English economist David Ricardo.\n\nRicardo considered what goods and services countries should produce, and suggested that they should specialise by allocating their scarce resources to produce goods and services for which they have a comparative cost advantage. There are two types of cost advantage \u2013 absolute, and comparative.\n\n\nAbsolute advantage means being more productive or cost-efficient than another country whereas comparative advantage relates to how much productive or cost efficient one country is than another.Here an example check the attachment

  • comment-profile-img>
    Ronak kumari upadhyay

    It can be argued that world output would increase when the principle of comparative advantage is applied by countries to determine what goods and services they should specialise in producing. Comparative advantage is a term associated with 19th Century English economist David Ricardo.\n\nRicardo considered what goods and services countries should produce, and suggested that they should specialise by allocating their scarce resources to produce goods and services for which they have a comparative cost advantage. There are two types of cost advantage \u2013 absolute, and comparative.\n\n\nAbsolute advantage means being more productive or cost-efficient than another country whereas comparative advantage relates to how much productive or cost efficient one country is than another.Here an example check the attachment

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    Ronak kumari upadhyay best-answer

    It can be argued that world output would increase when the principle of comparative advantage is applied by countries to determine what goods and services they should specialise in producing. Comparative advantage is a term associated with 19th Century English economist David Ricardo.\n\nRicardo considered what goods and services countries should produce, and suggested that they should specialise by allocating their scarce resources to produce goods and services for which they have a comparative cost advantage. There are two types of cost advantage \u2013 absolute, and comparative.\n\n\nAbsolute advantage means being more productive or cost-efficient than another country whereas comparative advantage relates to how much productive or cost efficient one country is than another.Here an example check the attachment

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