When A Nation Has A Comparative Advantage In Producing A Product Then In Comparison With Any Other Nation It Can Produce That Product? Comparative advantage is an economy’s ability to produce a particular good or service at a lower opportunity cost than its trading partners. … Comparative advantage suggests that countries will engage in trade
Which Region Is Most Likely To Export Bananas To The United States? Ecuador is the largest exporter of bananas in the world and its share of world banana trade is on the increase. Exports expanded from one million tonnes in 1985 to 3.6 million tonnes in 2000. Which region is most likely to export bananas?
Which Of The Following Is True About The North American Free Trade Agreement? The North American Free Trade Agreement (NAFTA) was implemented in 1994 to encourage trade between the U.S., Mexico, and Canada. NAFTA reduced or eliminated tariffs on imports and exports between the three participating countries, creating a huge free-trade zone. What is the
What Does Each Country Get From Trading With One Another? What does each country get from trading with one another? Trade is central to ending global poverty. Countries that are open to international trade tend to grow faster, innovate, improve productivity and provide higher income and more opportunities to their people. Open trade also benefits