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RE: Importance of exports to the economy

in #life6 years ago

First of all, informative post needless to say, something I would like to add is the implications of comparative advantage defined as:

"Comparative advantage is an economic law referring to the ability of any given economic actor to produce goods and services at a lower opportunity cost than other economic actors."

Thus making export profitable for both X and Y even though X may have an absolute advantage over Y in the good.

Will stay tuned for more, +1.

Otherwise, if you're into travelling, vlogs, fitness, self-development etc feel free to check out my channel, in any case keep up the good work and I'll see you around! :)

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I followed you mate ;) Thanks for your nice comment :)