When conducting business in a market of comparative advantage, trading partners will realize:_____.

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06-09-2022
Business

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When conducting business in a market of comparative advantage, trading partners will realize:_____.

Sagot :

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tutorconsortium344 tutorconsortium344 · Answer 1 · 2022-09-11T13:43:19-04:00

When conducting business in a market of comparative advantage, trading partners will realize "economies of scale."

What is Comparative advantage?
The ability of an economy to produce a certain good or service at a lower opportunity cost than its trading competitors is known as comparative advantage. The idea of comparative advantage shows how trade may be advantageous for individuals, nations, or companies. Comparative advantage in international trade refers to the goods that a nation can produce faster or cheaper than other nations. Even while this typically illustrates the advantages of trade, a number of modern economists now admit that relying solely on comparative advantages may lead to resource exploitation and depletion in a country.

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When conducting business in a market of comparative advantage, trading partners will realize:_____.

Sagot :

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