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Subject:
what is the absolute advantage and comparative advantage?
Category: Business and Money > Economics Asked by: nobleresearcher-ga List Price: $4.00 |
Posted:
11 Oct 2004 03:54 PDT
Expires: 10 Nov 2004 02:54 PST Question ID: 413091 |
plz explain them to me, thanks you very much |
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There is no answer at this time. |
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Subject:
Re: what is the absolute advantage and comparative advantage?
From: probonopublico-ga on 11 Oct 2004 04:24 PDT |
Try this for size: An 'absolute advantage' is when there is absolutely no argument; A 'Comparative Advantage' is when the advantage is much more debatable. (Only guessing.) |
Subject:
Re: what is the absolute advantage and comparative advantage?
From: frde-ga on 11 Oct 2004 06:44 PDT |
http://www.bized.ac.uk/virtual/dc/trade/theory/th2.htm IMO Hechsher and Ohlin should have been drowned at birth |
Subject:
Re: what is the absolute advantage and comparative advantage?
From: delilama-ga on 22 Nov 2004 17:49 PST |
Let's use two roomates as an example here, Al and Bert. Let's say Al can wash the dishes in 10 minutes and clean the house in 30 minutes. Let's say Bert can wash the dishes in 15 minutes and clean the house in 2 hours. Al has an absolute advantage in both of these chores. But even when one person has an across the board absolute advantage, it turns out to be beneficial to both people if Al only cleans the house and Bert only washes dishes (assuming they can agree on compensation for the differences in value each one brings to the bargain). Al has a comparative advantage in cleaning the house and Bert has a comparative advantage in washing dishes (the best use of Al's time is cleaning the house and Bert's best use of time is washing dishes). |
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