Who has the comparative advantage
In 2023, the U.S. could produce either 100 million tons of corn or 50 million cars, while Brazil could produce either 80 million tons of corn or 10 million cars. Who has the comparative advantage in cars?
The US🦅
Japan builds a bicycle in 2 hours and a computer in 1 hour using the same resources
That is a comparative advantage for computers
When was David Ricardo Born (max 10 years off)
1772
China can produce 200 million smartphones or 50 million tons of steel. India can produce 60 million smartphones or 30 million tons of steel. Who has the comparative advantage in steel?
India🇵🇰
Germany produces 4 fluffy handcuffs in 3.5 hours and 5 normal handcuffs in 3.5 hours using the same resources
It is comparative advantage as, Germany has a comparative advantage at building normal handcuffs
Where was he born? (city)
London
Germany can produce 40 million cars or 20 million tons of machinery. Japan can produce 45 million cars or 15 million tons of machinery. Who has the comparative advantage in machinery?
Germany🙋🏼♂️
Denmark produces 2.7 windmills in 1.1 hours and Sweden produces 4.2 windmills in 2.2 hours using the same resources
Denmark has the absolute advantage in producing windmills
Who's theory does David Ricardo built on?
Adam Smith's theory of absolute advantage