Answer:
Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.
Explanation:
Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.
Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.
The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.
Ex : Production Possibilities
Wine Sweater Trade off (Wine :Sweater)
France 10 5 1:0.5 or 2:1
Tunisia 8 24 1:3 or 0.33:1
- France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
- Tunisia produces Sweater with less opportunity cost (wine sacrifised) than France [ 0.33 wine < 2 wines] ; it has comparative advantage in Tunisia
The answer is a, true. It is because a person with an internal locus of control has their own belief in terms of their health in a way that their behaviors and actions will be the ones responsible of having to know the status or what will likely happen to their health in which is also same in the given description above.
When a business is able to grow by exporting its products around the world, it can frequently attain larger economies of scale, which leads to reduced unit costs.
A company's production unit cost often goes down as it grows. This reduction is the result of economies of scale. By employing the least expensive production techniques, profits will be maximized.
Consumers' prices are lowered as a result of lower cost-per-unit, which increases their real wages overall and makes it easier for them to locate affordable goods.
Businesses from one country offer their goods and services to clients or consumers in another country through the exporting process.
When a company produces more goods at a larger scale while paying less money on average per unit of output, this is a phenomenon known as economies of scale.
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The accounting profit of Jarod based on the information regarding rent, wages, etc given will be $55000.
It should be noted they the formula for calculating accounting profit will be:
= Total revenue - Explicit cost
Total revenue will be:
= $65 × 4000
= $260,000
Explicit cost is the direct cost that a business spends. This will be:
= $60000 + $120000 + $25000
= $205,000
Therefore, the accounting profit will be:
= $260000 - $205000
= $55,000
The accounting profit is $55000.
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Answer:
REDISTRIBUTION
Explanation:
Redistribution of assets and income can be defined as social mechanism like taxes, education, healthcare, government services, political reform, fiscal policy, confiscation, separation or tort rule is the redistribution of wealth and income from some persons to others.
The phrase's meanings differ, based on private experiences, political philosophies and limited statistical usage. In politics, it is often said, probably referring to supposed transfers of wealth from those with more to those who have less.
