question archive Economist Lester Thurow once posed the question ”if you were the president of your own country and could specialize in one of two industries, computer chips or potato chips, which would you choose?” When faced with this question, many people choose potato chips, with reasoning “everyone can use potato chips but not everybody can use computer chips”
Economist Lester Thurow once posed the question ”if you were the president of your own country and could specialize in one of two industries, computer chips or potato chips, which would you choose?” When faced with this question, many people choose potato chips, with reasoning “everyone can use potato chips but not everybody can use computer chips”
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Economist Lester Thurow once posed the question ”if you were the president of your own country and could specialize in one of two industries, computer chips or potato chips, which would you choose?” When faced with this question, many people choose potato chips, with reasoning “everyone can use potato chips but not everybody can use computer chips”. But the answer is much more complex. Whether to choose computer chips or potato chips depends on such factors as relationship between national wealth and the amount of value added in manufacturing products, the possibility that the country can benefit from monopoly power (few countries can make computer chips), and the likelihood of spin-off industries (computer chips technology give rise to other technology such as computer). In light of these and other possible considerations, which would you choose: Computer chips or Potato Chips? Justify your answer.
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Answer:
It depends on the region what is more valuable in terms of usage in particular region potato chips or computer chips? then we will see the demand and also competition ,then we will decide which is more cost effective according to the industry’s conditions :human resources and their skills are also required.
So, after look up all these factors I decide to choose potato chips because there is no more skills are required as compared to computer chips. This will be cost effective also, not everyone can use the computer chips and potato chips is more common ,Resource are easily available everywhere, I think cost is pocket friendly, not heavy capital is required in this. Computer chips are recognized by a particular age group but potato chips are preferred by every age group.
