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Productivity is that component which creates a competitive advantage rather than a comparative advantage; the latter only addresses only the supply side of the market system and ignores demand, historical chance and the role of government. Indeed, the model of competitive advantage addresses the question of development today.
A nation's standard of living is increasingly dependent on the competitiveness of its economy. Competitiveness is vital if the nation's firms are to take advantage of the opportunities opened up for them in the international arena. World trade and foreign investment have grown faster than world output in the last several decades...
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Common topics in this essay:
- Competitiveness. Its Advantages and Disadvantages
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- Legal Competitiveness
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