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What are productive resources?

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Joshua Stredder
Joshua StredderLv10
2 Apr 2021
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Related questions

What are the productive resources in economics?

Let's assume there are only 2 countries that produce 2 good. More specifically, suppose that the US and UK each have 2 units of productive resources, 1 used to produce wine, the other cloth. The US can produce 40 units of wine with 1 unit of productive resources and 40 Units of cloth with 1 unit of productive resources. The UK can produce 20 units of wine with 1 unit of productive resources and 10 units of cloth with 1 unit of productive resources. Using this informatin, please answer the question below:

Who has an absolute advantage in the productionof wine and in the proction of Cloth?

Let's assume there are only 2 countries that produce 2 good. More specifically, suppose that the US and UK each have 2 units of productive resources, 1 used to produce wine, the other cloth. The US can produce 40 units of wine with 1 unit of productive resources and 40 Units of cloth with 1 unit of productive resources. The UK can produce 20 units of wine with 1 unit of productive resources and 10 units of cloth with 1 unit of productive resources. Using this informatin, please answer the question below:

Who has a comparative advantage in the production of Wine and in the production of Cloth?

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