What is comparative advantage? What is absolute advantage?
What will be an ideal response?
Comparative advantage is the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors. Absolute advantage is the ability of an individual, firm, or country to produce more of a good or service than competitors, using the same amount of resources.
Economics
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Government policies that encourage savings
A) reduce interest rates. B) increase interest rates. C) have no effect on interest rates. D) lower the net present value of all investments.
Economics
A futures contract is an agreement to buy a commodity at a specific future date, at a price set today
a. True b. False Indicate whether the statement is true or false
Economics