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Arisa [49]
1 year ago
13

What is comparative advantage and why is it important in international trade ?

Business
1 answer:
algol [13]1 year ago
6 0

Based on the international trade concept, comparative advantage is the ability to produce goods at a cheaper cost than competitors, and it is important in international trade because it enhances resource allocation.

<h3>What is Comparative Advantage?</h3>

Comparative advantage is a term that is used to describe the country's capacity to manufacture a specific good or service at a lower opportunity cost than its trading partners.

Usually, Comparative advantage is utilized to explain why companies, countries, or individuals can profit from the trade.

<h3>Importance of International trade</h3>
  • It helps countries to allocate resources for more gains
  • It helps countries to produce goods at a cheaper cost
  • It helps the country to specialize in production sectors they have more advantages.
  • It helps countries to improve their exportation income.

Hence, in this case, it is concluded that comparative advantage is beneficial to countries when it comes to production in international trade.

Learn more about Comparative Advantage here: brainly.com/question/12291750

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Nexus Industries uses a standard costing system to apply manufacturing costs to its production process. In​ May, Nexus anticipat
Mama L [17]

Answer:

$33,700 (Favorable)

Explanation:

Note: Figures are not inputted. The missing figures have been figured out as below.

"<em>Nexus industries uses a standard costing system to apply manufacturing costs to its production process. In May nexus anticipated 2700 units with fixed manufacturing overhead costs allocated at $8.40 per direct labor hour with a standard of 2.5 direct labor hours per unit. In May, actual production was 3400 units and actual fixed manufacturing overhead cost were $23000.  What was nexus fixed manufacturing overhead volume variance in May</em>?"

Solution:

Budgeted fixed overhead costs = Units * Direct labor cost * Standard Direct Labor hours per unit

= 2,700 units * $8.40 * 2.5

= 2,700 units * 21

= $56,700

Fixed manufacturing overhead volume variance = Actual fixed overhead cost - Budgeted fixed manufacturing overhead costs

When Actual fixed overhead = $23,000 ,  Budgeted fixed overhead costs = $56,700

Fixed manufacturing overhead volume variance = $23,000 - $56,700

= $33,700 (Favorable) .

8 0
3 years ago
do you beleive sending targeted advertising information to a computer using cookies is objectionable? why or why not?
Rufina [12.5K]

No, I feel that targeted advertising with cookies is not at all objectionable; rather, it is a very efficient technique for an organization to advertise and promote its products or services.

We commonly see files and pop-ups in our browsers when browsing the internet; these are cookies, and we typically encounter them at sites that we frequently visit. I feel that this is not at all offensive, but rather an efficient method of advertising and marketing things by segmenting the appropriate audience or prospective business.

Targeted advertising, or those customized ones that follow you across the internet containing products that you might really desire, have a lot of negative connotations: they're creepy, misleading, and possibly humiliating, among other things.

A cookie is a piece of software that allows websites to access data saved on the hard disk of a user. This enables them to recognize a visitor when he returns to their site, but only if the user has already identified himself with personal data that permits him to be recognized. For each new user, each new cookie generates a unique identifying code. These cookies can only be acquired for usage when the user directly visits the website server or via a third-party tag.

For more information on Cookies, visit :

brainly.com/question/27960855

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4 0
1 year ago
Maidenform Brands is a global intimate apparel company that designs, sources, and markets intimate apparel products under the Ma
Sedaia [141]

Maidenform and its major brands have strong brand equity.

Explanation:

Brand stocks refer to the added value of a single company for the same commodity. This renders one substance better than others. Brand loyalty renders a company better or worse than other brands.

Apple: Apple's market share best example.

Brand equity includes three basic components: the understanding of customers, negative or beneficial consequences and the resultant valuation.

Name equity funds also operate in the same market or field.

8 0
3 years ago
The last step in the marketing process often includes: collecting the cash from sales to consumers. developing a written report
pochemuha

Answer: developing a written report to summarize the results of the period's marketing activities.

Explanation:

The last step in the marketing process often is developing a written report to summarize the results of the period's marketing activities.

Developing a written report to summarise the results of the marketing activities is necessary in order to evaluate the performance of the marketing activity and also learn from past mistakes which have previously affected the company.

These are vital in order to capture a good market share in the future and also achieve organizational goals.

6 0
3 years ago
National accounting identities Let C stand for consumption spending, I for investment, G for government purchases, X for exports
madreJ [45]

Answer:

A. National income must equal domestic product.

True.

Explanation:

National Income is the total value of goods and services produced in a country during a financial period. It is total income from a country's economic activities.

Domestic product is monetary value of all economic activities of a country during a period.

National Income is sum of Investments, Savings, Government expenditures and net exports. National Income equals the domestic products of a country. The equation is as follows:

C + I + G + (X - IM) = DI + NT.

The statement given is true. Disposable income equals the saving plus consumption. The excess of disposable income which is not consumed is saved.  Sum of saving and consumption must equal Disposable income in an economy.

4 0
3 years ago
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