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Category > Economics Posted 22 Jun 2017 My Price 4.00

concept of opportunity cost and comparative advantage

In America, we are able to produce about everything we consume, but we don't. Several decades ago, the US was a manufacturing economy. We used to make the Nike shoes, Lives jeans, and many other goods here in the United States. However, we no longer produce those commodities in the US (even though we practically could). Why? 

How does the concept of opportunity cost and comparative advantage explain the above argument? 

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SuperTutor
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Status NEW Posted 22 Jun 2017 02:06 AM My Price 4.00

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