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Author Question: The significance of the economic dimension of a business environment is highlighted when a number of ... (Read 85 times)

Medesa

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on: Jul 14, 2018
The significance of the economic dimension of a business environment is highlighted when a number of states-from Alabama to Nevada-make their local economies even more appealing by providing special tax deals to attract new firms.
 
 Indicate whether the statement is true or false

Question 2

What does it mean for a country to have an absolute advantage? Compare that to having a comparative advantage.


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okolip

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Reply #1 on: Jul 14, 2018
Answer to Question 1

True

Answer to Question 2

When a country has an absolute advantage, that country has the ability to produce a specific product more efficiently than every other nation. A comparative advantage occurs when a nation has the ability to produce a specific product more efficiently than all other products. Every country has a comparative advantage in some product while it is not true that every country has an absolute advantage over every other country.


Medesa

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Reply 2 on: Jul 14, 2018
Thanks for the timely response, appreciate it

upturnedfurball

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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