Advanced Placement (AP), 19.07.2019 04:00 nathangirnet

What role does comparative advantage play in trade and global markets?

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Answer from: mkpayton2006

Countries would be able to increase their productivity for the services with comparative advantage. A country then can sell products they produce efficiently and also would buy from other nations the products that they cannot produce. The comparative advantage can lose if there are competitors operating in a low wage country.

Answer from: sudotoxic

To promote specialization that will increase the global output, and then bring about a fall in the prices if goods in the global market.

Explanation:

The principle of comparative advantage states a country should specialize and produce more of a good in which it has a lower opportunity cost of production, and import the good in which it has a higher opportunity cost of production.

The opportunity cost of production refers to quantity of a good that has to be forgone in order to produce one extra unit of another good. The lower the number of unit to give up, the lower the the opportunity cost. On the other hand, The higher the number of unit to give up, the higher the the opportunity cost.

The aim of the comparative advantage is to promote specialization of nations in the production of goods they have the lowest opportunity cost. As the specialization increases, the world output will increase, prices of good will fall in the global market, and this will bring about improved standard of living as most goods are cheaper and affordable to all.

Answer from: Quest

answer; technician a is correct; good luck;

Answer from: Quest

The statement is correct because if there is a bunch of noise around you and you are focusing on the noise you will not comprehend your questions and lessons nor will you be able to get the proportion information you need and you will likely spend many more hours on work than normal than if you could ignore the sound

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