Ask Question
3 October, 09:24

Canada is currently the second largest producer of nickel in the world. The recent reopening of the world famous Voisey's Bay mine, which has total resources estimated at 124 million tons of nickel-bearing ore, should give Canada a clear:

comparative advantage

+2
Answers (1)
  1. 3 October, 11:52
    0
    The correct answer is: comparative advantage.

    Explanation:

    In Business, comparative advantage is an advantage that a company has over its competitors. The strategy relies on the company being able to produce at a lower comparative cost. This is achieved by lowering production costs or by introducing more efficient manufacturing strategies.

    In Canada's case, the reopening of Voisey's Bay mine implies an opportunity to lower the costs of the commercialization of nickel since there will be more of that resource available for extraction.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Canada is currently the second largest producer of nickel in the world. The recent reopening of the world famous Voisey's Bay mine, which ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers