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Due to its highly educated workforce and low labor costs,India has a comparative advantage in software development.
Software Development
The process of conceiving, specifying, designing, programming, documenting, testing, and fixing bugs involved in creating and maintaining applications, frameworks, or other software components.
Comparative Advantage
The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trading possibilities.
India
A country in South Asia, known for its diverse culture, historical heritage, and as the world's largest democracy.
- Comprehend the fundamental concepts of international trade along with the theories of absolute and comparative advantage.
- Apprehend the economic indicators, especially GDP growth, trade balances, and exchange rates, and their pertinence to international trade.
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Learning Objectives
- Comprehend the fundamental concepts of international trade along with the theories of absolute and comparative advantage.
- Apprehend the economic indicators, especially GDP growth, trade balances, and exchange rates, and their pertinence to international trade.
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