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Chapter 32: Q. aFCT (page 716)

Why do you think that increased specialization in specific agricultural products has accompanied growth in African exports of those products?

Short Answer

Expert verified

Segmentation is a method of manufacture where an entity focusses on providing a narrow selection of stuff in order to improve the efficiency.

Step by step solution

01

Introduction

Basic economic specialized is associated with individual agents and macroeconomic components, whilst overall specialize is preoccupied with such a nation's economic total manufacturing advantage.

02

Given Information

In order to maximize efficiency, businesses should specialization with one sector or a small selection of goods.

03

Explanation

Within one neighborhood, company, or wider grouping, specializing is a contract that each member perfectly suited for that same function feels responsible for in its implementation.

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Most popular questions from this chapter

32-7. Consider the table and answer the questions that follow.

a. What is the opportunity cost of producing modems in South Shore? Of producing flash memory drives in South Shore?

b. What is the opportunity cost of producing modems in Fast Isle? Of producing flash memory drives in East Isle?

c. Which natáon has a comparative advantage in producing modems? Which nation has a comparative advantage in producing flash memory drives?

Based on your answers to Problem 32-1, which nation has a comparative advantage in producing pastries? Which nation has a comparative advantage in producing sandwiches?

How could multilateral trade agreements established for all nations through the World Trade Organization help to prevent both trade diversion and trade deflection that can occur under regional trade agreements, thereby promoting more overall international trade?

Identify key international agreements and organizations that adjudicate trade disputes among nations.

Why was it more efficient to end the quota? (Hint: Why do you think that people usually accept money in exchanges instead of engaging in barter of one good for another every time they trade?)
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