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business

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Issue:

Business

 

Written by:

Henry P

 

Date added:

March 4, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

1 / 261

 

Was viewed:

4896 times

 

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Essay content:

What does this mean? Since businesses have to pay more for their workers, they're going to concentrate more on investing in new factories and new materials (capital). (2) The theory of comparative advantage, which is the fundamental idea behind the economics of international trade. It says that if each nation produces the goods that they can make most efficiently (in other words, they have the required natural resources, the right level of technology, enough skilled laborers, etc...
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It says that if each nation produces the goods that they can make most efficiently (in other words, they have the required natural resources, the right level of technology, enough skilled laborers, etc. to produce those goods), all nations will benefit in the end, by trading for the goods produced by other nations...
displayed 300 characters

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