Explain the difference between absolute and comparative, Business Economics

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Explain the difference between absolute and comparative

1) Explain the difference between absolute and comparative advantage.

2) Explain the law of increasing (opportunity cost). What causes cause to increase?

3) What factors or events could cause an inward shift of the production possibilities curve?

4) What is meant by the term vicious circle of poverty? DRAW A GRAPH TO ILLUSTRATE THE CONCEPT.

5) Why are most new technologies considered indestructible?

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Business Economics: Explain the difference between absolute and comparative

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Business Economics: Explain the difference between absolute and comparative

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