If It Takes Three Times as Many Resources to Make

question 265

Short Answer

If it takes three times as many resources to make a car in Nigeria as in Mexico and it takes twice as many resources to grow wheat in Mexico as in Nigeria,we say that Mexico enjoys an absolute advantage in the production of _____ and Nigeria enjoys an absolute advantage in the production of _____.

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Definitions:

Strategic Choices

Decisions made by an organization's leaders about the direction and scope of the organization, influencing its competitive position and future success.

Diversification

A growth strategy to expand by acquisition of or investment in new and different business areas.

Complexity

The state or quality of being intricate or complicated.

Diversification Strategy

A business policy of increasing the variety of products or markets served to spread risk and create opportunities for growth.