According to the theory of comparative advantage, a country gains from foreign trade even though it may have an absolute advantage in the production of all products because

Question

Answer

economies of scale will reduce cost

Answer

workers become more efficient through specialization

Answer

the country will forgo producing its less efficient output in order to produce its more efficient output

Answer

there will be more incentive to develop cost-saving technologies

Crowdly

According to the theory of comparative advantage, a country gains from foreign t...

Хочете миттєвий доступ до всіх перевірених відповідей на moodle.kent.ac.uk?