Nation engage in external trade because of difference in<...
Nation engage in external trade because of difference in
Comparative cost
Absolute cost
Fixed cost
Variable cost
Correct answer is A
Comparative cost advantage is a reason for nations engage in external trade. The principle of comparative cost advantage was propounded by David Ricardo.
The resources used in production are called ...
The main function of the African Development Bank (AFDB) is to ...
Which of the following is NOT a contribution of agriculture to industrial development? ...
Population growth is determined by_______? ...
A commercial bank is able to create money ...
The type of inflation that emanates from excess demand overs supply is___________? ...
Land is a factor of production because it ...
Which of these would NOT increase the population of a country? ...
Statutory organisations usually established by Acts of Parliament are called ...