In the example given, why is the production of chocolate considered more efficient than the production of cheese?
Question 6 : Why would a country or individual want to use their resources more efficiently? To make this theory easier to understand, consider a world in which only two countries exist, Italy and China, and only two goods exist, shirts and bicycles. The Chinese are very efficient in producing both goods. They can produce a shirt in one hour and a bicycle in two hours. The Italians, on the other hand, are not very productive at manufacturing either good. It takes them three hours to produce one shirt and five hours to produce one bicycle SEE GRAPH BELOW The Chinese have a comparative advantage in shirt manufacturing, as they have the lowest opportunity cost (1/2 bicycle) in that good. Likewise, the Italians have a comparative advantage in bicycle manufacturing as they have the lowest opportunity cost (5/3 shirts) in that good. It follows, then, that the Chinese should specialize in the production of shirts and the Italians should specialize in the production of bicycles, as these are t
Despite the fact that both products contain milk or the cheese is mostly all milk, it is more expensive to make a cheese with a liter of milk because it takes more material than combining milk chocolate to make a bar of it, the example is that the cheese is more delicate because you have to take care when the cheese curdles, and you can start to remove it while the chocolate only with which you make the mixture you can pour it into the molds more information here
- The confectionery company Chocoholly spawn chocolate chips cookies as bit of their production chain. Chocolate?
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