10. Why international trade happenscountries have absolute advantageA country has more ability to produce a particular good than the othercountries have different opportunity cost of producing specific outputOne countries can produce more in both goods11. What is true about demand curve?non-price effects can shift the demand curveprice change can shift the demand curvethe relationship of price and quantity always positiveincome increase is the move along the demand curve 12. What statement is always trueWhen income increase, people will buy more quantity of good.Quantity demand of good A will drop when price of good B is cheaperDemand for a good can be changed when individual taste is change.Expectation cannot affect demandอื่นๆ:13. What can affect supply shift to the right?Less number of sellersNew technology that improve efficiencyIncreased input pricesExpectation of new pandemic outbreakล้างสิ่งที่เลือก

Answered: 10. Why international trade happens…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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10. Why international trade happens
countries have absolute advantage
A country has more ability to produce a particular good than the other
countries have different opportunity cost of producing specific output
One countries can produce more in both goods
11. What is true about demand curve?
non-price effects can shift the demand curve
price change can shift the demand curve
the relationship of price and quantity always positive
income increase is the move along the demand curve

12. What statement is always true
When income increase, people will buy more quantity of good.
Quantity demand of good A will drop when price of good B is cheaper
Demand for a good can be changed when individual taste is change.
Expectation cannot affect demand
อื่นๆ:
13. What can affect supply shift to the right?
Less number of sellers
New technology that improve efficiency
Increased input prices
Expectation of new pandemic outbreak
ล้างสิ่งที่เลือก

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Question 10: Introduction

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The movement of products, services, capital, and technology between nations is referred to as international trade. International trade is promoted because it helps both exporting and importing nations. It helps customers choose products and services from a variety of possibilities that are both reasonably priced and of great quality. Exporters profit from global trade because it allows them to create vast quantities of commodities and profit from their sale.

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