Which trade theory has these implications: (1) nations may benefit from trade even when they do not differ in resource endowments or technology; and (2) specialization allows for scale economies and lower production costs?

Ricardo's theory of competitive advantage.

Explanation:

Ricardo postulated that two countries can have the same resources but have comparative advantage in producing some of the goods. When these countries specialise in the commodities they have comparative advantage in and when they trade they will have total less cost of production.

For example if two countries both produce pencils and Biros. Country A has more advantage producing pencils while Country B advantage producing Biros.

Country A and B can specialise the products where they have lowest cost therefore minimising cost. Both countries will benefit from the trade.

answer; (15,000)workers each

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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