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In basic economic theory, it is because of revealed comparative advantage (RCA).
If two people can make two products, there is always an RCA such that the two can produce more together if each one specialises. Even if one person is a less efficient producer of both products, it is better for that person to produce what they are less bad at producing and let the better producer concentrate on whatever they have the greater edge on.
By doing so, the two can produce more together than going it alone. Then, they trade - and that is where the commerce comes in. As a result, each person would be better off than trying to be self-sufficient and not trading.
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Why is the commerce clause important?
ram you in the tail pipe
Why is commerce study important?
Commerce study is important because commerce is the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country. At basic levels of commerce study, you'll learn about managing your funds and laws that are around to protect society.
Which is better commerce with math or commerce without math?
It is impossible to conduct commerce without math.
How many syllables commerce?
Commerce has two syllables. Com-merce.
How many subjects are there in commerce of 12th class?
Hello sir i wana a question for class 11,12 ki how many type of subject in commerce background thatswhy,
