Question

3. “The world’s poorest countries cannot find anything to export. There is no resource that is...

3. “The world’s poorest countries cannot find anything to export. There is no resource that is abundant—certainly not capital or land, and in small poor nations not even labor is abundant.” Discuss.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Compared to other countries, the small poor country need not be an absolute resource abundant country. The relative endowments of the production factors decide the comparative advantage for a region. Poor countries normally have a greater endowment ratio of labor capital (relative labor abundance) compared to developing and developed countries. They have comparatively low labor cost of production. If they sell comparatively labor intensive goods (Hecksher-Ohlin Theorem), they are still able to gain from trading. The price of business is higher than the price of its autarky. Wage increases for employees and their purchasing power rises too

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
please read and answer questions down below thank you Economics is a social science. It deals...
please read and answer questions down below thank you Economics is a social science. It deals with people’s behavior. As sociology, psychology and politics, economics is the study of human action. It shows individuals acting and doing some particular things or undertaking specific activities.                                         Economics studies how people and societies allocate scarce resources to produce goods and services, to distribute these goods and services, and to consume them in order to satisfy unlimited wants. So, in economics, we are...
Economic inequality is a huge issue. A recent study found that the world’s 80 wealthiest individuals...
Economic inequality is a huge issue. A recent study found that the world’s 80 wealthiest individuals own as much as the entire world’s poorest 3.5 billion people. The richest 1 percent of the world’s population control half of the world’s total wealth. Many individuals, corporations, charities, and government agencies have projects and programs in place to attempt to tackle this and other important global issues such as sustainability, but there are many opportunities to do more. A grassroots group of...
Question: 3) What challenges do African nations need to overcome to attract more tourists? The unique...
Question: 3) What challenges do African nations need to overcome to attract more tourists? The unique challenges of working in developing markets can also be explored. 4) How should Lee White market Gabon's national parks to attract more tourists? Roughing It: Tourists Are Boldly Going Into African Trouble Spots A conservationist in oil-rich Gabon leads the way in promoting tiny nation’s sur ing hippopotamuses and other natural attractions, as part of a regional push for tourism amid instability By Alexandra...
Argentina and Ecuador: Understanding the Currency Crisis While fiscal policy is never far from the mind...
Argentina and Ecuador: Understanding the Currency Crisis While fiscal policy is never far from the mind of your average Argentine, who remembers the tough times and hyperinflation of the 1980s, the events of 2001 and 2002 have brought fiscal policy back to the forefront of public concern. Though the early 1990s may have been characterized by financial optimism, Argentina has been in a recession since Brazil's 1998 monetary crisis sent shockwaves across the regional and global markets. In early 2002,...
QUESTION: Why do governments typically take an unsupportive stance on countertrade arrangements? Article Below: The Bell...
QUESTION: Why do governments typically take an unsupportive stance on countertrade arrangements? Article Below: The Bell Boeing V-22 Program, a strategic alliance between Bell Helicopter, a Textron Company, and the Boeing Company,1,2 announced the V-22 Osprey tiltrotor will be featured at the Dubai International Air Show in the United Arab Emirates (UAE) from November 13 to 17, 2011. The Air Show, held biennially, is organized in cooperation with the government of Dubai, the Department of Civil Aviation, and Dubai International...
Exploring Innovation in Action Power to the People – Lifeline Energy Trevor Baylis was quite a...
Exploring Innovation in Action Power to the People – Lifeline Energy Trevor Baylis was quite a swimmer in his youth, representing Britain at the age of 15. So it wasn’t entirely surprising that he ended up working for a swimming pool firm in Surrey before setting up his own company. He continued his swimming passion – working as a part-time TV stuntman doing underwater feats – but also followed an interest in inventing things. One of the projects he began...
3 SECURING THE WORKFORCE Diversity management in X-tech, a Japanese organisation This case is intended to...
3 SECURING THE WORKFORCE Diversity management in X-tech, a Japanese organisation This case is intended to be used as a basis for class discussion rather than as an illustration of the effective or ineffective handling of an administrative situation. The name of the company is disguised. INTRODUCTION In light of demographic concerns, in 2012, the Japanese government initiated an effort to change the work environment in order to secure the workforce of the future. Japan is world renowned for its...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
provide 3-4 paragraphs post (team 2) 1-What are 4 key things you learned about the topic...
provide 3-4 paragraphs post (team 2) 1-What are 4 key things you learned about the topic from reading their paper? 2-How does the topic relate to you and your current or past job? 3-Critique the paper in terms of the organization and quality.1- Employee Stress and how it has an Adverse Effect on a Company This paper explores employee stress and how it has an adverse effect on a company, its employees and the organization. Job stress can have a...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT