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2 years ago

When two countries specialize in producing the goods for which they have a comparative advantage and?

1 answer:

3 0

It can be mutually advantageous for two nations to specialize in goods for which they have a relative advantage and then trade with one another. Absolute advantage is the basis of the potential gains from specialization and trade.

<h3>What does it mean for a producer to have comparative benefit?</h3>

Comparative advantage is a requirement of a producer where it is better suited for the production of one good than another good. Good A can be made more efficiently than good B, for example. This comparison is done in terms of the option costs of each good, not in terms of pure production costs.

To learn more about Comparative advantage , refer

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What are two types of goods/services that lend themselves well to price competition? Discuss these goods/services and reasons wh

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Explanation:

The two types of goods / services where price competition works best are those classified by a market model of perfect competition and imperfect competition.

In perfect competition, there is a predominance of a homogeneous market, with the presence of many companies and without barriers to entry, where there is the possibility of free price competition, such as the food industry.

In imperfect competition, there is also the presence of many industries in the market, but there is a differentiation of products, which causes price competition but depending on the benefits, functionality and degree of differentiation of the good perceived by the consumer.

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3 years ago

Which is an example of a land-use law?

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Answer:

easements, trespassing, and eminent domain. Explanation: Zoning is the most common form of land-use regulation, used by municipalities to control local property development. Other legal issues pertaining to land use include

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3 years ago

Economists refer to this pattern, the ___________________________________, which means that as a person receives more of a good,

DochEvi [55]

Answer:

The law of diminishing marginal utility

Explanation:

Simply put, as more (additional unit) of a good is consumed the lesser the marginal utility or satisfaction derived.

For example, a child might request a certain type of chocolate form his parents for a period of time.

After sometime, the child may buy less and choose another type of chocolate or prefer to buy cake instead because the satisfaction he initially got from the chocolate is diminishing.

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3 years ago

Consumption Ratios Zapato Company produces two types of boots: vaquero and vaquera. There are four activities associated with th

Alexxandr [17]

Answer:

Explanation:

The formula to compute the consumption ratio is shown below:

Consumption ratio = Activity driver amount ÷ Total amount of activity driver

For Cutting hours

Vaquero = ($2,190) ÷ ($2,190 + $5,400)

= ($2,190) ÷ ($7,590)

= 0.29

Vaquera = ($5,400) ÷ ($2,190 + $5,400)

= ($5,400) ÷ ($7,590)

= 0.71

For Assembly hours

Vaquero = ($2,850) ÷ ($2,850 + $4,650)

= ($2,850) ÷ ($7,500)

= 0.38

Vaquera = ($4,650) ÷ ($2,850 + $4,650)

= ($4,650) ÷ ($7,500)

= 0.62

For Inspection Hours

Vaquero = ($940) ÷ ($940 + $2,430)

= ($940) ÷ ($3,370)

= 0.28

Vaquera = ($2,430) ÷ ($940 + $2,430)

= ($2,430) ÷ ($3,370)

= 0.72

For Rework hours

Vaquero = ($150) ÷ ($150 + $450)

= ($150) ÷ ($600)

= 0.25

Vaquera = ($450) ÷ ($150 + $450)

= ($450) ÷ ($600)

= 0.75

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3 years ago

BRAINLIEST For each of the transactions in items 1 through 5, indicate the effects on the accounting equation elements.

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Answer:

When the company gets cash from a bank loan,

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Bank Loan Account Credits

what happens is that the Assets increase and the Liabilities also increase.

Explanation:

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3 years ago