Bangladesh’s comparative advantage in textile production includes: A.a completely ethical, bribery free environment B.a tariff system for thread C.extensive cultivation of silk worms D.a network of supporting industries E.highly educated workforce

The objective of the question is to identify the comparative advantage that Bangladesh has in…

Answered: Bangladesh’s comparative advantage in…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Bangladesh’s comparative advantage in textile production includes:

	A.	a completely ethical, bribery free environment
	B.	a tariff system for thread
	C.	extensive cultivation of silk worms
	D.	a network of supporting industries
	E.	highly educated workforce

Definition Video Definition Ability of a country to produce goods and services at a lower opportunity cost compared to other countries. Here, opportunity cost refers to the forgone units of one good in order to produce one more unit of another good. For example, the opportunity cost of producing good X in country A is 2Y and in country B is 1.25Y. Country B has a lower opportunity cost of producing good X than country A. Therefore, country B has a comparative advantage in the production of good X. Video

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