The opportunity cost is stated in relative pricing, that is, the price of one option in comparison to another.
When there are numerous vendors in a market but no one is significant enough to control the price of a product. Because both items must be produced, the relative price must match the opportunity cost. If the opportunity cost of one good is lower in the home country than so will be the relative price.
As bananas cost $0.90 per kg, so, if a toothpaste is for $2.25, we are forgoing 2.25 kgs banana (2.25/0.9). Thus, the opportunity cost is 2.5 kg bananas which is equal to the relative price of bananas.
Therefore, relative price is an opportunity cost.
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36. Good A is inferior to Good B.
37. Substitution ?
38. Good A & B are complements.
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Answer:
2. housing services enjoyed by homeowners
Explanation:
Imputed value is an estimated value for an object that is uncertain or inaccessible of the actual value.
The largest expense of the GDP accounts is the value of the services offered by the housing of the owner. The imputation is rendered so that the position in GDP of holders of housing is equal to that of tenants who are rent-paying.
Answer:
flow across national borders
Explanation:
The globalization is the process in which the company is able to deal with the other companies internationally or operating the activities of the company as on international trade to expand their business
According to the given situation, the globalization stated the processes in which the goods, services, capital, and other things are flow across the national borders
Hence, the fourth option is correct