Created: 1 year ago | Updated: 8 months ago | Created By:
Maliha Mou
Maliha Mou
comparative differences in costs
Topic: India
Trade exists for man clue to specialization and division of labor, most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions' size allows for the benefits of mass production thus providing cost advantage of producing the same commodity.

No comments yet.