why are goods and services expensive in underpopulated countries?
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There is a large body of literature on the role of the nontraded good, most of which are services. ... Bhagwati (1984) argued that when the Poor and Rich countries specialize in a different traded good and the nontraded good, the wage-rent ratio is lower and hence the services are cheaper in the Poor country
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1
Answer:
There is a large body of literature on the role of the nontraded good, most of which are services. ... Bhagwati (1984) argued that when the Poor and Rich countries specialize in a different traded good and the nontraded good, the wage-rent ratio is lower and hence the services are cheaper in the Poor country.
One of the major factors that affects the prices of goods is the difference in taxes and import duties across countries. ... Many products are cheaper in Japan thanks to lower import taxes and better wholesale prices. Even local taxes make a big difference.
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