Question: For Which Good(s) Does Indonesia Have A Comparative Advantage?
1 For which good does Indonesia have a comparative advantage?
2 Which country has comparative advantage in pizza?
3 Which country has a comparative advantage in making laptops?
4 How is opportunity cost calculated?
5 What is the opportunity cost of an item?
6 What is comparative advantage example?
7 Who has the comparative advantage in producing burgers?
8 What country has a comparative advantage in producing cell phones?
9 Which country has the absolute advantage in bananas?
10 Which is the best example of a country that is dependent on other countries?
11 Which country has the comparative advantage in producing dates?
12 What is a real life example of opportunity cost?
13 What is opportunity cost explain with example?
14 What are the types of opportunity cost?
For which good does Indonesia have a comparative advantage?
Revealed Comparative Advantage (RCA) suggests that Indonesia exports manufacture good that specialize in natural resource-intensive and unskilled labor-intensive, that has slower world demand growth compared to those commodities with high technology-intensive.
Which country has comparative advantage in pizza?
A country has an absolute advantage if it can produce something more efficiently than another country. Germany is better than making beers than Italy, so it has an absolute advantage in brewing. Italy is better at making pizzas than Germany, so it has an absolute advantage in pizza making.
Which country has a comparative advantage in making laptops?
China has the absolute advantage in producing laptops, and Japan has the comparative advantage (China's opportunity cost in producing one laptop is ¾ car, for Japan it is ½ car).
How is opportunity cost calculated?
The formula for calculating an opportunity cost is simply the difference between the expected returns of each option.
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What is the opportunity cost of an item?
The idea behind opportunity cost is that the cost of one item is the lost opportunity to do or consume something else; in short, opportunity cost is the value of the next best alternative.
What is comparative advantage example?
Comparative advantage is what you do best while also giving up the least. For example, if you're a great plumber and a great babysitter, your comparative advantage is plumbing. That's because you'll make more money as a plumber.
Who has the comparative advantage in producing burgers?
Who has a comparative advantage in burgers? Ex: Papa John has an absolute advantage in pizzas because he can produce 100 and Ronald can only make 20. The producer with the lowest opportunity cost. Ex: Ronald has a comparative advantage in burgers because he has a lowest PER UNIT opportunity cost.
What country has a comparative advantage in producing cell phones?
Comparative advantage in international trade Canada has a comparative advantage in producing cellphones. the ability to produce more of a good or service than competitors when using the same amount of resources.
Which country has the absolute advantage in bananas?
Puerto Rico has the absolute advantage in bananas, while Jamaica has the absolute advantage in sugar cane. When it comes to absolute advantage, one only has to look at the total number of products produced and whoever has more has the absolute advantage.
Which is the best example of a country that is dependent on other countries?
The best example of a country that is dependent on other countries is a country that has very little or less fertile soil to make its resources.
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Which country has the comparative advantage in producing dates?
Which country has the COMPARATIVE advantage in producing DATES? Italy and Libya produce grain and dates.
What is a real life example of opportunity cost?
The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving.
What is opportunity cost explain with example?
When economists refer to the "opportunity cost" of a resource, they mean the value of the next-highest-valued alternative use of that resource. If, for example, you spend time and money going to a movie, you cannot spend that time at home reading a book, and you can't spend the money on something else.
What are the types of opportunity cost?
This distinction gives rise to two types of opportunity cost–explicit and implicit.
Explicit Cost: This is an opportunity cost that involves a money payment and usually a market transaction.
Implicit Cost: This is an opportunity cost that DOES NOT involve a money payment or market transaction.