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International Economics 14th Edition by Robert Carbaugh
النسخة 14الرقم المعياري الدولي: 978-1285060347International Economics 14th Edition by Robert Carbaugh
النسخة 14الرقم المعياري الدولي: 978-1285060347 تمرين 2
What is meant by international competitiveness? How does this concept apply to a firm, an industry, and a nation?
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International competitiveness is the ability of firms, industries, or nations to produce and sell goods and services in relation to the ability of other firms, industries, or nations in the international market. This type of competition applies to firms and industries by giving them an incentive to produce at the lowest costs possible, typically by sacrificing employment at home and hiring foreign workers at low wages. The aura of competitiveness encourages firms and industries to continue production efficiently or else they might be outcompeted and thrown out of business by foreign firms and industries.
International competitiveness applies to nations by raising each country's standard of living. When firms and industries increase their production, their respective nations' gross domestic product (GDP) increases. This is equivalent to an increase in domestic total output, allowing people in those nations to increase their consumption of goods and services.
International competitiveness applies to nations by raising each country's standard of living. When firms and industries increase their production, their respective nations' gross domestic product (GDP) increases. This is equivalent to an increase in domestic total output, allowing people in those nations to increase their consumption of goods and services.
International Economics 14th Edition by Robert Carbaugh
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