Answer:
The answer is: E) workers in Alzania have higher productivity due to better education and training.
Explanation:
Alzania and its neighbor both produce cotton and they both have the same amount of workers in the production of cotton. If Alzania is able to produce more cotton (or any type of product) using the same amount of resources (in this case labor) than its neighbor, we can conclude that Alzania does have an absolute advantage in that industry.
This absolute advantage exists because Alzania's workers are more productive than their neighbor's workers.
For example, lets say both countries have 5,000 cotton workers. Alzania produces 100 tons of cotton per worker, while its neighbor only produces 80 tons of cotton per worker. That means Alzania's workers are more productive, and labor usually gains productivity through education or training.
Answer:
B. Joint Stock Company
Explanation:
A few information provided in the question give good clues to the kind of business organisation being run. First, it is a business held in the names of its members, secondly, they are shareholders and thirdly, they hold personal liabilities in the business. This are features of a Joint Stock Company
A Joint Stock company is a business organisation is a vouluntary association of persons, where the capital is divided into transferable shares and these are the basis and condition of membership of the business organisation. The purpose of this organisation is primarily profit making.
A key feature of a Joint Stock Company is also featured in the question and this is the personal liability or liability limited to the member's share or ownership in the business organisation
Although this can be confused with the Joint Venture, a joint venture is simply an agreement betwen two organisations to come together to carry on business with pre-agreed rate of shareholding.
A Syndicate on the other hand is a group of companies, individuals or coroporations self-organised to carry out a specific business or pursue a shared interest.
Finally, a business trust is one in which there are investors and trustees. The investors receive certificates of beneficial interests which are transferable while the trustees adminster the business on behalf of the investors.
A coase solution to a problem of externality ensures that a socially efficient outcome is to maximize the joint welfare, irrespective of the right of ownership.
Explanation:
In law and in economics the Coase theorem explains the economic efficiencies in the existence of externalities. The economic efficiency of economic allocation or outcome. In practice, barriers to negotiation or poorly defined rights of property can prevent coasean negotiations.
The private external solutions include, for the benefit of the relevant parties, moral codes, charities and business fusions and contracts. In the theorem, two parties can bargain and obtain an optimal outcome in the presence of an externality when transaction cost is low.
Answer:
B $12,300
Explanation:
Note that the movements in the prepaid insurance account balance is as a result of payments and amortization of these expenses as they fall due. While additional payments increases the prepaid insurance balance, amortization reduces it.
Given that the ending balance in the Prepaid insurance account for 2018 is $1,400. This is the opening balance for prepaid insurance in 2019. Given that the insurance expense for 2019 is $12,800 and the ending balance in the Prepaid insurance account for 2019 is $900
Let the amount paid in 2019 be r
Then
$1,400 + r - $12,800 = $900
r = $900 + $12,800 - $1,400
r = $12,300
The right answer is B $12,300
When the price at which items are sold exceeds what it costs businesses to produce those goods, there is a producer surplus. The region to the left of the quantity sold, below the price, and above the supply curve is known as the producer surplus.
Consumer surplus is represented by a horizontal line drawn between the y-axis and demand curve and is defined as the region below the downward-sloping demand curve, or the amount a consumer is prepared to spend for certain quantities of an item, and above the actual market price of the good.
Producer surplus decreases when the equilibrium price falls. The producer surplus is intimately correlated with changes in the demand curve. Producer surplus rises as demand rises. Reduced demand results in reduced producer surplus.
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