Importance of factors that affect UK comparative advantage
Can anyone help with some factors that affect it, how they do it in economics terms and how important they are?
Level of education, types of skill strengths in the economy
Time zone (often citied as a reason for London's advantageous position in the financial markets)
Comparative advantage is to do with opportunity cost. So it is worth noting the things that the UK is very bad at. This means the trade off for other output is minimal.
Thanks for posting! You just need to create an account in order to submit the post
Already a member?
Oops, something wasn't right
please check the following:
Not got an account?
Sign up now
© Copyright The Student Room 2015 all rights reserved
The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.
Register Number: 04666380 (England and Wales), VAT No. 806 8067 22
Registered Office: International House, Queens Road, Brighton, BN1 3XE