Israel, India, Pakistan, Chile, Germany, Liberia and Finland Are Examples

question 21

Short Answer

Israel, India, Pakistan, Chile, Germany, Liberia and Finland are examples of contemporary nations that has, or has recently had, a __________ as head of state.

---

Definitions:

Domestic Opportunity Costs

The cost of forgoing the next best alternative use of a country's domestic resources.

Capital-Intensive

A type of industry or business that requires large amounts of capital investment in comparison to labor to produce goods or services.

Labor-Intensive

A term describing industries or businesses that require a large amount of human labor relative to capital equipment to produce goods or services.

Comparative Advantage

The ability of a country, firm, or individual to produce a particular good or service at a lower opportunity cost than others, leading to more efficient trade outcomes.