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Wildboards Company introduces a product called a "Rollerboard" for which it is granted a registered trademark.The Rollerboard is a snowboard with a removable row of wheels along the center of the underside.With the wheels attached,the user can attain extremely high speed in hard-packed snow conditions.In addition,many users have found that they can use their snowboards on streets with the wheels attached.This new use of snowboards becomes very popular and many competing snowboard makers introduce similar products.The sport becomes known generally as rollerboarding and most people refer to all such wheeled snowboards as rollerboards.The consequence of this is that:
Mutually Beneficial Trade
Trade agreements between parties that provide gains or advantages to all involved, enhancing each party's welfare.
Relative Cheaper
The comparison of the cost of one product or service to another, indicating that the former is less expensive.
Labor-Intensive
Describing a process or industry that requires a large amount of labor to produce its goods or services.
Comparative Advantage
The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors, which enhances efficiency in international trade.
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