Answer:
1. Betty ; 2. Betty ; 3. Candies
Explanation:
Absolute Advantage is when one can produce more output of a good per unit of input , comparatively than other .
Comparative Advantage is when one can produce a good's output by comparatively lesser opportunity cost (other good sacrifised) than other .
AI : Chocolates = 10 , Candies = 5
Betty : Chocolates = 30 , Candies = 10
As it can be seen : Betty can produce both of more - chocolates (30) & candies(10) than AI (10,5) . So, it has Absolute Advantage in both - Candies & Chocolates.
However, AI is twice more productive in chocolates than toffees (10,5) ; but Betty is thrice more productive in chocolates than toffees (30,10). Comparatively, Betty is more productive in Chocolates. So opportunity cost of Chocolate in terms of sacrifised toffees is less for Betty 0.33 (10/30) than AI 0.5 (5/10).
So, trade between them would be : Betty selling its comparative advantage good Chocolate , AI selling its less comparative disadvantage good Candies.
Answer:
The Hewitt's leadership falls on the the Middle of Road Management, which is carefully assessed, realistic and in turn creates a balance between concerns for people and production.
The shortcomings of this leadership are, Failure to motivate and inspire people, lack of passion and enthusiasm, Inability to keep workers.
Explanation:
Solution:
(a) The leadership of Hewitt fall towards the Middle of Road Management at 5,5 points, as it is well realistic, carefully assessed or adjusted, and satisfies the concerns for the people and production.
(b) The shortcomings or defaults discovered in Hewitt's Leadership is stated as follows:
- The failure to motivate and inspire people
- The Inability to retain employees or workers
- The lack of passion and willingness or zeal
- The lack of appreciation on employee or individual
Answer:
C. A giant mixing container costs twice as much to operate as a small one but can mix 6 times as much dough daily
Explanation:
Economies of scale refers to a state when increase in the output results out of lower average costs. The operation of such a phase results out of, the total cost getting spread over large number of units of production in the long run.
Economies of scale results when the operations of a business expand due to which a firm can buy in bulk, avail more discounts and concessions from the seller for inputs and the efficiency of the labor rises.
In the given case, if the bakery decides to purchase a giant mixing container, it might lead to economies of scale given the fact, with respect to costs, the revenues shall rise more.
Since the giant mixer is capable of mixing six times as much dough daily, it would lead to a reduction in the average cost accompanied by an increase in the output and thereby lead to economies of scale.
Answer:
Explicit consent.
Explanation:
Explicit consent then means that the data subject must give an express statement of consent, for instance in a written statement.
Answer:
Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them, as defined by the Advertising Association of the UK.
