9.9.2013_ECO_102

Sources of us comparative advant age us physical

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Unformatted text preview: of an industry. Sources of U.S. Comparative Advant age Ø Ø Ø Ø U.S. physical and technological infrastructure is the best in the world Wealth from past production and borrowing allows the U.S. to be the world’s largest consumer U.S. companies and individuals hold a large number of intellectual property rights The U.S. has a relative open immigration policy The Market System Market A group of buyers and sellers of a good or service and the institution or arrangement by which they come together to trade. Product markets Markets for goods—such as computers—and services—such as medical treatment. Factor markets Markets for the factors of production, such as labor, capital, natural resources...
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This document was uploaded on 03/29/2014.

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