Question

- Discuss the likelihood SINGAPORE and OMAN would enjoy an absolute advantage, a comparative advantage, or...

- Discuss the likelihood SINGAPORE and OMAN would enjoy an absolute advantage, a comparative advantage, or no particular advantage of each of the following products:

1) Cars

2) Petroleum

3) Computers

4) Pharmaceuticals

5) Gold

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Homework Answers

Answer #1

Singapore would have comparitive advantage in cars production while oman will have no advantage.

Singapore would have no particular advantage in petroleum production while oman will have absolute advantage.

Singapore will have comparitive advantage in computer production while oman will have no particular advantage.

Singapore will have comparitive advantage in pharmaceutical industry products than oman due to its better healthcare.

Oman will have absolute advantage in the production of gold over Singapore.

If you have any doubts please comment...

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