Description: The principle of comparative advantage is fundamental to determination of the pattern of trade among nations. David Ricardo was the economist who coined this term. Opportunity cost, stated briefly, is the benefit foregone for undertaking an activity. So, if a country has a lesser value for its resources in the alternative use, it can most efficiently employ resources in this activity. This is what comparative advantage means. Example: Two goods are produced, say wine and wheat, using only one input, i.e. labour. Suppose Nation A requires 10 and 5 units of labour to produce one unit of wine and wheat, respectively, whereas, Nation B requires 10 units of labour each.
How Much Does A Postage Stamp Cost For 2017. Effective January 22, 2017 the cost of a first class (1) ounce letter sent through the United States Post Office increased two cents from $0.47 to $0.49 for letters mailed within the United States. Reversing the $0.2 price drop from $0.49 to $0.47 effective April 10, 2016.
Price of a Forever Stamp going up 2 cents. Updated on January 22, 2017 at 5:59 PM Posted on January 22, 2017 at 7:49 AM. The cost of a Forever Stamp is going up 2 cents.Leada Gore | lgore@al.com. It will now cost you more to mail a letter. Starting today, the cost mailing a one-ounce first-class letter has gone up 2 cents - from 47 cents to 49 cents. It's the first time the U.S. Postal Service has increased stamp prices since January 2014 when the cost of a stamp rose from 46 cents to 49 cents. Then, in April 2016, the cost of a stamp dropped - the first such reduction in almost a century - from 49 cents to 47 cents. Now the cost is back up. Most of the increase in costs will be to users of Forever Stamps which are sold at the going rate but never expire. Currently, all first-class one-ounce stamps - except those sold in coils of 500, 3,000 or 10,000 - are Forever Stamps.