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From the above extract, it can be concluded that South Africa trades in agricultural products with the rest of the world because of.. a) absolute advantage b) investment in the global economy c) trade tariffs d) comparative advantage

From the above extract, it can be concluded that South Africa trades in agricultural products with the rest of the world because of.. a) absolute advantage b) investment in the global economy c) trade tariffs d) comparative advantage

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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1.18 Read the following extract and answer question 1.18 SA agri posts trade surplus in Q2 despite ongoing Covid challenges The agriculture sector was able to operate during the various lockdown periods due to it being considered an essential service. Weather also came to the party and allowed for an excellent agriculture season which saw record crops across most commodities with the grain and oilseed crop topping 17.07m tonnes which is almost 2% higher year-on-year. Despite logistical challenges, the sector managed to move hefty quantity of produce to the rest of the world with the second quarter of 2021 recording a trade surplus of US$1.5m which is 40% ahead of the same period in 2020. Then follows a 36% year-on-year spike in total agriculture exports in quarter two of 2021 at US$3.2bn, bringing the total 1H2021 export value to US$6.1bn which is 30% higher year-on-year... The overall good export revenue was underpinned by strong export demand despite the Q2 Rand exchange rate appreciation of 6% quarter-on-quarter and 21% relative to the second quarter at R14.09/ US$. The average exchange rate appreciation for the first half of 2021 was a whopping 13% relative to the same period in 2020... From the above extract, it can be concluded that South Africa trades in agricultural products with the rest of the world because of... a) absolute advantage b) investment in the global economy c) trade tariffs d) comparative advantage
Transcribed Image Text:1.18 Read the following extract and answer question 1.18 SA agri posts trade surplus in Q2 despite ongoing Covid challenges The agriculture sector was able to operate during the various lockdown periods due to it being considered an essential service. Weather also came to the party and allowed for an excellent agriculture season which saw record crops across most commodities with the grain and oilseed crop topping 17.07m tonnes which is almost 2% higher year-on-year. Despite logistical challenges, the sector managed to move hefty quantity of produce to the rest of the world with the second quarter of 2021 recording a trade surplus of US$1.5m which is 40% ahead of the same period in 2020. Then follows a 36% year-on-year spike in total agriculture exports in quarter two of 2021 at US$3.2bn, bringing the total 1H2021 export value to US$6.1bn which is 30% higher year-on-year... The overall good export revenue was underpinned by strong export demand despite the Q2 Rand exchange rate appreciation of 6% quarter-on-quarter and 21% relative to the second quarter at R14.09/ US$. The average exchange rate appreciation for the first half of 2021 was a whopping 13% relative to the same period in 2020... From the above extract, it can be concluded that South Africa trades in agricultural products with the rest of the world because of... a) absolute advantage b) investment in the global economy c) trade tariffs d) comparative advantage
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