Answer:
Georgeland has an absolute but not a comparative advantage in producing clothing.
Explanation:
Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.
Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.
Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.
In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.
Answer:
Personal liability
Explanation:
Jeri and Knute are shareholders in lighthouse tours LLC. As lighthouse tours LLC is a limited liability company, Jeri and Knute enjoy limited liability.
Legally, lighthouses LLC is independent of its shareholders. It has the right to own assets and incur liabilities. Should the company get to the dissolution stage, its assets will be used to settle its obligations. If the assets of the company are not sufficient, the shareholders' private properties cannot be used to pay the debts. Jeri and Knute will be liable only to the extent of capital contribution.
Answer:
<em>Theory of justice
</em>
Explanation:
A Justice Theory is a 1971 work of John Rawls ' political philosophy and ethics, whereby the writer addresses the problem of distributive justice.
The principle uses a revised sort of Kantian philosophy and a variant form of conventional theory of social contracts.
The bill of lading is the type of receipt that provides information showing that 2,000 air filtration units had been delivered to its warehouse.
<h3>What is a bill of lading?</h3>
A carrier will issue a bill of lading to confirm receiving cargo for shipment. A bill of lading can be used for any sort of good transportation today, despite the fact that originally the phrase was exclusively used to refer to shipping. A contract, a receipt attesting to the carrier's receipt of the goods, and a document of title are all purposes served by the bill of loading.
Consequently, it is a document that goes with freight that outlines the agreement between the shipper and the carrier and sets down the rules that apply to their interaction when products are transported. It provides information about the shipment's cargo and transfers ownership of the shipment to the designated recipient party.
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