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katrin [286]
3 years ago
12

If, at constant relative prices in a two-commodity and two-factor world, growth in a country’s labor force causes an expansion i

n output of the labor-intensive good and a contraction in output of the capital-intensive good, this situation is an example of the
Business
2 answers:
Aleks04 [339]3 years ago
6 0

Answer:

Rybczynski theorem.

Explanation:

Rybczynski theorem is of the opinion that says that if the demand of some resource increases, the resultant effect will be for the industry that uses that resource most intensively to also increase its output while the other indus­try will decrease its output. Here, relative factor intensity is measured by the ratio of factor use in each industry.

The theory suggests that If, at constant relative prices in a two-commodity and two-factor world, growth in a country’s labor force causes an expansion in output of the labor-intensive good and a contraction in output of the capital-intensive good.

This implies that If two commodities (such as food and cloth) are not jointly produced, but are evenly matched, this relationship will entail that a growth in one factor, such as labour, acts as a force to cause an actual fall in the production of one commodity.

ehidna [41]3 years ago
5 0

Answer:

Rybczynski theorem

Explanation:

Rybczynski theorem states that if the supply of one of the factors of production increases, and other factors remain the same, the output of the product that uses the increase factor will like increase while the output of other goods that do not use the increasing factor will decrease in absolute amount as long as factor and commodity prices do not change. For example, in labor-surplus country, if there is an increase in the supply of labor, there will be a corresponding increase in the output of the commodity that needs labor and reduced output in the commodity that do not need labor, but instead are capital-intensive.

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Consider the following data to answer the following questions: Country GDP Population A $32,000 1,500 B $20,000 1,000 C $10,000
polet [3.4K]

Answer: 4 times

Explanation:

GDP per capita is a way of measuring the wealth Distribution in a country. It is calculated by dividing the Gross Domestic Product by the population of the country. The aim usually is to see if the Country's economy is big enough considering the amount of people it has.

Country C has a GDP per capita of,

= 10,000/500

= $20

Country D has a GDP per capita of,

= 10,000/2,000

= $5

= 20/5

= 4

Country C has a GDP per capita that is 4 times that of C.

4 0
3 years ago
During May, Bergan Company incurred factory overhead costs as follows: indirect materials, $8,800; indirect labor, $6,600; utili
Klio2033 [76]

Answer:

Dr Factory Overhead $29,200

Cr Materials 8800

Cr Wages payable 6600 Cr Utilities Payable 4800

Cr Accumulated Depreciation-Factory 9000

Explanation:

Preparation of the entry to record the factory overhead incurred during May.

Dr Factory Overhead $29,200

($8,800 + $6,600 + $4,800 + $9,000)

Cr Materials 8800

Cr Wages payable 6600 Cr Utilities Payable 4800

Cr Accumulated Depreciation-Factory 9000

(To record the factory overhead incurred during May)

8 0
3 years ago
Explain two barriers to entry for a new business
Marianna [84]

Answer: Government regulation, Economies of scale

Explanation:

Barriers to entry refers to the restrictions that are imposed on the entry of a new firm or business into the market. These can be,

a). <em>Government regulation</em>- Sometimes the government puts many restrictions on the entry of a new firm. These can be license requirement or by limiting the availability of a resource.

b). <em>Economies of scale</em>- These refer to the efficiency in production that occurs when one firm grows larger in size and is able to cover the entire market at a lower cost than many small firms producing the same good in smaller quantities. The cost of production is lower for a single firm than for many firms.


6 0
3 years ago
Read 2 more answers
Which of the following characteristics describe Millennial employees, in general?
insens350 [35]

Answer:

B. Globally conscious.

Explanation:

Millenials are the generation of people born in the 80s and 2000s, and represent people who were born at a time when technology and the internet were strengthened, which caused a revolution in the form of social interactions around the world.

The internet revolutionized business, due to the speed in the exchange of information, it was possible for business to expand and integrate, which generated globalization, which is the interaction of businesses between countries in search of competitive and strategic advantages in the global market.

Therefore, it is correct to say that the generation of millennials are more globally aware employees, due to the fact that they have grown up in a cultural and social environment marked by the use of the internet and the availability of information, which makes them more aware about business. global interactions, multicultural interactions and more possibilities to understand the market and contribute to its development.

7 0
3 years ago
With respect to how economists study the economy, which of the following statements is most accurate? a) Economists study the pa
vampirchik [111]

Answer:

Option (c) is correct.

Explanation:

Economists refers to the people who are doing research, analyzing data and measure the qualitative activities in terms of money.

For research perspective, one should have proper knowledge about the research problem that he or she need to address in his or her research. Then he should collect the reliable and accurate data for the analysis. Data is very important for a particular research study.

Once the data is ready to analyze then the economists run the data and interpret the results.

5 0
3 years ago
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