Maple Syrup: Absolute Advantage In Canada
MAPLE SYRUP: CANADA’S STICKY GOLD
Maple syrup has been a cultural identity of Canada since Canada is the largest producer of maple syrup in the world.1 It is clear that Canada has an absolute advantage in maple syrup. The purpose of this paper is to analyze why maple syrup is an absolute advantage in Canada and how Canada maintains this advantage.
According to Investopedia, absolute advantage refers to the ability of a party to produce more of a good or service than its competitors.2 Canada and the U.S are the only two countries that produce maple syrup. Over the last five years, Canada has accounted for 85% of the world’s production of maple syrup while the U.S accounted for only 15%.3 Based on the definition and the figure above,
Maple syrup has been a cultural identity of Canada since Canada is the largest producer of maple syrup in the world.1 It is clear that Canada has an absolute advantage in maple syrup. The purpose of this paper is to analyze why maple syrup is an absolute advantage in Canada and how Canada maintains this advantage.
According to Investopedia, absolute advantage refers to the ability of a party to produce more of a good or service than its competitors.2 Canada and the U.S are the only two countries that produce maple syrup. Over the last five years, Canada has accounted for 85% of the world’s production of maple syrup while the U.S accounted for only 15%.3 Based on the definition and the figure above,