Indonesia produces about 60 percent of the worlds palm oil. Palm oil is used in the production
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Indonesia produces about 60 percent of the world’s palm oil. Palm oil is used in the production of shampoo, ice cream, and chocolate. Assume that Switzerland does not produce palm oil but companies in Switzerland import palm oil from Indonesia to make chocolate. Compared to Switzerland, does Indonesia have an absolute advantage or a comparative advantage in the production of palm oil?
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Answer Indonesia has an absolute advantage in the production of palm oil as it produces a si...View the full answer
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I am an MBA graduate having experience as an Assistant Professor at University level for two years. I always prepare well for a class as I believe that only if you become an ocean you can give a bucket of water. Being a teacher was not only my profession but also my passion.
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