According to the theory of comparative advantage speciali...
According to the theory of comparative advantage specialization will result in
Labour-intensive method of production
Capital-intensive method of production
Efficient allocation of resources
Efficient distribution of output
Correct answer is C
The theory of comparative advantage simply explains what a country would do best while also giving up the least.
It is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. With this, the economy will enjoy resource allocation optimization and efficiency.
Adam Smith's Theory of value stated that the value of a commodity depended on________ ...
When governments wants to discourage consumption, they tax goods whose demand is ...
The Central Bank instrument of control does NOT include ...
From the diagram above, the quantity of output is determined by the point ...
An economy system that uses what is regarded as the "Market mechanism" is called_______ ...
Which of the following is not a direct effort to increase agricultural production? ...
Securities are described as listed when they are ...
Which of the following matters may account for changes in supply? I - Technological advances...