9.9.2013_ECO_102

Discussion so i say everyone gains and no one loses

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: o I say “Everyone gains, and no one loses from the international trade.” Am I right? Why or why not? Outsourcing To send out (work, for example) to an outside provider or manufacturer in order to cut costs. Why Don’t We See Complete Specialization? • • • Not all goods and services are traded internationally. Tastes for products differ. Production of most goods involves increasing opportunity costs. Real Beauty in Many Asians’ Eyes Cosmetic Surgery: Before & After Where Does Comparative Advantage Come From? Among the main sources of comparative advantage are the following: Climate and natural resources. • Relative abundance of labor and capital. • Technology. • External economies. • External economies Reductions in a firm’s costs that result from an increase in the size...
View Full Document

Ask a homework question - tutors are online