Question

What other elements besides soil, climate, and water conditions do you suppose influence whether a region or nation develops a comparative advantage in an agricultural product? (Hint: What other factors of production are involved in producing agricultural goods?)

Short answer

The areas of the economy are an important economic process those elements required to develop a conceptual framework for purchase.

Step-by-step solution

Introduction

The expression "costs of production" is originated from just a modernist economic standpoint. It unifies preceding theories, such as fascism's conception of worker as an unit of production, together into single word.

Given Information

Crude and diamonds, like contrast, might well be harvested and prepared for personal consumption as from ground.

Explanation

In capitalist economies, the sovereignty of residents who refinanced or franchised their generating sources have been obligated to be with us. to individuals and institutions. Nonetheless, this is indeed a theory that is rarely witnessed in practice. The management of productive factors, except maybe labor, varied by employment and business framework.