Answer:
b. incur the opportunity cost of ignoring the wishes of others.
Explanation:
Opportunity cost in economics is seen as the forgone cost of doing something.
So in this instance where private ownership rights are well defined, everyone knows what is his own and what belongs to others.
The opportunity cost of this will be to ignore the wishes of others. They must now consider the wishes of others.
Answer: The answer is as follows:
Explanation:
From these numbers, we can conclude that USA has a comparative in producing cars and France has a comparative advantage in producing bottles.
Opportunity cost shows that how many units of one good have to be foregone in order to produce one additional unit of other good.
In USA:
Opportunity cost of producing bottles = 
= 0.75
Opportunity cost of producing cars = 
= 1.33
In France:
Opportunity cost of producing bottles = 
= 0.55
Opportunity cost of producing cars = 
= 1.8
Above calculations clearly shows that USA has a lower opportunity in producing 1 unit of car as compared to the France, so it has a comparative advantage in producing cars.
Whereas, France has a lower opportunity in producing 1 unit of bottle as compared to the USA, so it has a comparative advantage in producing Bottles.
Answer:
Cake demand next year=1,267,498 units
Explanation:
Y=I+G
where;
Y=cake demand next year
I=initial demand
G=growth demand
Meaning;
Cake demand next year=Initial demand+growth demand
where;
Initial demand=1,207,141 units
growth demand=5% of initial demand
growth demand=(5/100)×1,207,141=60,357.05 units
replacing;
Cake demand next year=1,207,141+60,357.05=1,267,498.05
Cake demand next year=1,267,498.05 units rounded off to the nearest unit=1,267,498 units
The correct answer is a I a, typing to get the answer right
Answer:
Nominal group technique which is sometimes denoted as NGT is type of decision making approach that first step include identification of problems and then resolve them.
Explanation:
Nominal group technique which is sometimes denoted as NGT is type of decision making approach that first step include identification of problems and then resolve them.
This type of approach want every single member involvement and their ideas to be share among the present group. The main advantage of this approach is that it include every individual participation, chaos or noise between the discussion is less.
