Answer: Market diversification
Explanation: Market diversification is a type of corporate strategy wherein a company acquires or establishes a business other than that of its current product. It means extending business offerings to new market segments that previously were not targeted. Biz Solutions is currently provides customer care service, by seeking to purchase a software that serves the oil and gas industry, it is attempting to diversify its markets.
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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TRUE. The type of research method used depends on the nature of the study in question.
Answer:
contractionary fiscal policy.
Explanation:
In Economics, fiscal policy can be defined as the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. A fiscal policy is in relation to the "Keynesian macroeconomic theory" by John Maynard Keynes.
Basically, a fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
A contractionary fiscal policy is a policy that is typically used by the government to reduce aggregate demand (AD) by decreasing government purchases and increasing income taxes.
An income tax is a tax on the money made by the employees working in a state. This type of tax is paid by workers with respect to the amount of money they receive as their wages or salary.
Generally, the government of a country may use a contractionary policy to slow down the economy when there's a a inflation and gross domestic product (GDP) is growing too.
Answer:
We can infer from the graph, that about two thirds (around 60%) of the world's population lived in Asia in 2008.
Asia is by far the most populated continent in the world. The two most populous countries of the globe are located in Asia: India, and China, each with over 1 billion people.
