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rasdeep singh
on Nov 03, 2024

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Even though the United States manufactures textiles,China is able to produce them more efficiently.Thus,China has a _____ in manufacturing textiles.

A) tariff
B) quota
C) trade restriction
D) comparative advantage

Comparative Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than competitors, leading to more efficient trade patterns.

Manufactures Textiles

The process of creating fabrics or cloth from various types of fibers and raw materials.

  • Gain insight into the concepts of comparative and absolute advantage as they apply to international trading practices.
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Ronald AntonyNov 04, 2024
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