This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is a primary disadvantage of industrial policy? What will be an ideal ... (Read 45 times)

HCHenry

  • Hero Member
  • *****
  • Posts: 591
on: Jul 7, 2018
What is a primary disadvantage of industrial policy?
 
  What will be an ideal response?

Question 2

What is opportunity cost? Why is opportunity cost an important consideration when determining what a country should export and import?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

TheNamesImani

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 7, 2018
Answer to Question 1

Some experts argue that government bureaucrats cannot perfectly identify the right industries to favor under such a policy.

Answer to Question 2

The opportunity cost of a good is the value of what is given up to get the good. Opportunity cost acknowledges that a country should also consider how its efforts are best spent. While a country may be absolutely more productive than another country, it must consider that productivity relative to other things that the country could be producing.


HCHenry

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jul 7, 2018
Correct answers!


TheNamesImani

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 7, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
Primary School Attendance in World Regions Attending primary school is common but not universal, wo Primary School Attendance in World Regions Attending primary school is common but not universal, wo
The primary windings are inside the secondary windings on this General Motors coil. The primary windings are inside the secondary windings on this General Motors coil.
General location of the primary auditory cortex and areas of secondary auditory cortex. Most ... General location of the primary auditory cortex and areas of secondary auditory cortex. Most ...
The locations of human primary somatosensory cortex (SI) and one area of secondary somatosensory ... The locations of human primary somatosensory cortex (SI) and one area of secondary somatosensory ...
Examples of Primary (Congenital) Forms of Immunodeficiency Examples of Primary (Congenital) Forms of Immunodeficiency
Video: A timeline of the teeth (Explained - No Audio)

For a complete list of videos, visit our video library