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Essay

Comperative Advantage

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Issue:

Social Issues

 

Written by:

Benito G

 

Date added:

November 21, 2016

 

Level:

 

Grade:

A

 

No of pages / words:

5 / 1309

 

Was viewed:

9301 times

 

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Essay content:

Therefore countries are not always able to supply the goods its consumers demand and have to resort to other countries to acquire them. By choosing to produce a good, a country chooses at the same time not to produce another, this is called opportunity cost. Goal of a country in order to be more efficient is to produce the good with the lowest opportunity cost and then trade for the good that would be unprofitable because of its high opportunity cost...
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Goal of a country in order to be more efficient is to produce the good with the lowest opportunity cost and then trade for the good that would be unprofitable because of its high opportunity cost. Two countries can benefit from trade when they can both lower the opportunity cost of the goods they obtain through trade...
displayed 300 characters

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