Absolute Advantage Absolute advantage is a situation where a country can produce a product more efficient than any country in producing it. It also refer to ability to produce a particular good at a lower absolute cost than another. That’s mean a country that have an absolute advantage is a country that can produce a product that are due to some combination. The determinant of absolute advantage for a country is such as favorable climate‚ good soils‚and accumulated expertise. For example‚ Bangladesh
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Would you answer honestly if participating in a national crime survey asking about your criminal behavior‚ including any drinking and drug use? Yes I would participate in the survey. I would be honest because I have nothing to hide and no reason to lie. But for some they don’t want people to know what crimes they have committed or they lie about the extent of the crimes. But I think it’s because they want to be seen in a “good light”. A good term for this is called “Social Desirability Bias” which
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National Crime Survey Kristina Shearer Everest University Online CCJ1017_28 NATIONAL CRIME SURVEY The National Crime Victimization Survey is the Nations primary source of information on criminal victimization. Each year data is obtained from about 40‚000 households and nearly 75‚000 people on the frequency‚ characteristics‚ and consequences of criminal victimization in the United States. Each household is interviewed twice a year. The survey allows The Bureau of Justice Statistics to estimate
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What is the theory of comparative advantage? What is the theory of comparative advantage? International trade began at long time ago and it influences our life and economic. The reason why people have motivation to trade to others countries are because: the theory of comparative advantage‚ the imperfect markets theory and the product cycle theory. The idea of comparative advantage has been first mentioned in Adam Smith’s and then it was studies deep and detail by David Ricardo. In his opinion‚
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ADVANTAGES AND DISADVANTAGES OF INTERNATIONAL TRADE International trade allows countries to exchange good and services with the use of money as a medium of exchange. Several advantages can be identified with reference to international trade. However international trade does have its limitations as well. Discussed below are both advantages and disadvantages of international trade. Advantages • Greater variety of goods available for consumption – international trade brings in different varieties
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with less developed countries where these goods are produced for a higher price. This is striking but this comes out from the theory of “relative advantage”. The absolute advantage is the fact that one country (named A) is more efficient and productive than another country (named B) in the production of all goods. It is said that A has an absolute advantage on B. When these two countries have different relative efficiencies‚ they can make profit from trading with each other. For instance‚ if B can
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/ time. P = 2e4*10 / 3600s = 55.56 W. (10 points) Score 0. A sailor pushes a 100.0 kg crate up a ramp that is 3.00 m high and 5.00 m long onto the deck of a ship. He exerts a 650.0 N force parallel to the ramp. What is the mechanical advantage of the ramp? What is the efficiency of the ramp? Your response should include all of your work and a free-body diagram. Answer: 650 N is mvoed through a distance of 5m. The result is 100*9.8 N is moved up thrugh a distance of 3m. Mechnical
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the home advantage. Simply put‚ home advantage means the persistence of home teams winning a majority of games. This phenomenon has been around as long as team competition has been in existence but did not receive scientific study until 1977. Schwartz and Barsky (1977) did the first psychological study of home advantage. Given that this phenomenon indeed exists‚ Schwartz and Barsky intended to find why it exists. Before this study‚ hypotheses abounded as to the cause of home advantage (travel
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MANAGEMENT Cutting Porter’s Last Diamond: Competitive and Comparative (Dis)advantages in the Dutch Flower Cluster Ernesto Tavoletti Æ Robbin te Velde Received: 14 March 2008 / Accepted: 13 April 2008 / Published online: 10 July 2008 Ó Springer-Verlag 2008 Abstract The Dutch are the world’s leaders in the flower business even though they seem to lack comparative advantage in the traditional sense. Comparative advantages played a role in the history of the Dutch flower cluster and they still have
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Absolute Advantage and Comparative Advantage According to the classic model of international trade introduced by David Ricardo (19th-century English economist) to explain the pattern and the gains from trade in terms of comparative advantage‚ it assumes a perfect competition and a single factor of production‚ labor‚ with constant requirements of labor per unit of output that differ across countries. The basis for trade in the Ricardian model is the differences in technology between countries. As
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