You are getting ready to open the shoe hut, but you need to need to determine whether you have the absolute or comparative advantage in the production of specific items. this will you determine which product is the best for specialization.
your production possibilities are as follows:
• you have the resources to produce up to 15 running shoe inserts.
• you have the resources to produce up to 10 hiking boot inserts.
• for every 2 hiking boot inserts produced, you give up the production of 3 running shoe inserts.

Suppose that georgiania was a thriving empire in its golden age. business was booming and it was the center of international trade under the leadership of emperor raphael iii. his empire's pride and joy was the trading of green and black tea, and he decreed that their entire economy should be built around it. however, in the mid 1800s, georgiania experienced a severe economic downturn when the other nations of the world created an embargo on tea from georgiania, which led to civil strife due to thousands of workers being laid off. a downward fluctuation in the economy like this is known as a )the correct term is a key component )