Poor nations typically have a competitive advantage in agricultural goods because of
A. High productivity.
B. Low labor costs.
C. Entrepreneurial incentives.
D. Plenty of land.
Answer: B
Economics
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The law of supply states that
A) producers are legally required to make necessary items available in the marketplace. B) there is a positive relationship between price and quantity supplied, ceteris paribus. C) producers should only sell the items when the price is right. D) producers should only produce what they can sell.
Economics
Draw a graph to illustrate the effect of higher gasoline prices on the demand for large SUVs. What is the relationship between gasoline and SUVs?
What will be an ideal response?
Economics