Title: When discussing comparative and absolute advantage, which best describes specialization? developing expertise in certain types of
Headings: When discussing comparative and absolute advantage, which best describes specialization? developing expertise in certain types of production limiting the types of goods and services produced targeting specific consumers and retailers producing certain items for specific market segments the answer is: the act of limiting the kinds of goods and services produced
When discussing comparative and absolute advantage, which best describes specialization? developing expertise in certain types of production limiting the types of goods and services produced targeting specific consumers and retailers producing certain items for specific market segments the answer is: the act of limiting the kinds of goods and services produced
Answers
Another question on Social Studies
Social Studies, 21.06.2019 15:30

Content: The absolute and comparative theories are about making of products efficiently, and effectively. If one country is sufficient and effective in making a specific product, then that country should make that product to reduce the cost of production, time, and labour. Basically to limit the different types of goods and services produced, and focusing on making a specific specialized product by dividing the distribution of production in such a way, if one country is efficient in making a specific product, that country will make that specific product and then they will export that product, and can import other products, in which other countries are efficient in making of the product. (C)
Targeting specific consumers and retailers: This option is incorrect. The absolute and comparative theories are about making of products efficiently, and effectively. If one country is sufficient and effective in making a specific product, then that country should make that product to reduce the cost of production, time, and labour. (D)
Producing certain items for specific market segments: This option is incorrect. The absolute and comparative theories are about making of products efficiently, and effectively.