Using the same resources, the country of zanzibarus produces 12 million pounds of beef or 5 million pounds of pork. zanzibarus has a (n) ________ in beef in contrast with pork production.

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16-08-2022
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Using the same resources, the country of zanzibarus produces 12 million pounds of beef or 5 million pounds of pork. zanzibarus has a (n) ________ in beef in contrast with pork production.

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tripatsingh039 tripatsingh039 · Answer 1 · 2022-08-18T17:54:19+02:00

Using the same resources, the country of Zanzibarus produces 12 million pounds of beef or 5 million pounds of pork. Zanizibarus has a (n) Comparative Advantage in beef in contrast with pork production. This is further explained below.

The ability of an economy to produce a specific good or service at a lower opportunity cost than its trading counterparts is known as comparative advantage.

Opportunity cost is a new consideration in the idea of comparative advantage when comparing various manufacturing possibilities.

According to the theory of comparative advantage, nations will trade with one another and export the items in which they are relatively more competitive.

A country's labor force and natural resources may be exploited if one solely considers its comparative advantages.

Absolute advantage refers to a nation's undeniable ability to produce a certain good more effectively.

Learn more about Comparative Advantage here:

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