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?
Importance of factors that affect UK comparative advantage Watch
- Thread Starter
- 22-09-2011 07:14
- 23-09-2011 18:14
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)
- 24-09-2011 14:17
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.