Unformatted text preview: 1. Japan has a large, well-educated labor force and can specialize in labor-intensive commodities. 2. Australia has an abundance of land relative to human and capital resources and can cheaply produce land-intensive agricultural products. 3. Industrially advanced nations (including Japan) are in a position to produce capital-intensive goods. D. As national economies evolve, the resource base may be altered affecting the relative efficiency with which nations can produce various goods and services....
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This note was uploaded on 05/05/2008 for the course ECO 111 taught by Professor Kuryla during the Spring '08 term at Broome Community College.
- Spring '08