I believe the answer to your question is C.
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Answer: C. Colombia has an absolute advantage producing coffee, and Cuba has an absolute advantage producing oranges
Explanation:
From the question, we are informed that Colombia spends 2 hours producing coffee and 6 hours producing oranges, and Cuba spends 3 hours producing coffee and 1 hour producing oranges.
Since Columbia spends a lesser time producing coffee and Cuba spends a lesser time producing oranges, it means that Colombia has an absolute advantage producing coffee, and Cuba has an absolute advantage producing oranges.
Answer:
The answer is 54percent
Explanation:
Elasticity is a measure of how sensitive one variable is to any variable. It is expressed as the ratio of percentage changes in variables.
That is; %change in quantity demanded/%change in price.
This calculation shows how sensitive quantity demanded is to a change in price.
In the question, price elasticity of demand is 1.8
30 percent decrease in price
Therefore, the quantity demanded will increase by 30percent x 1.8
=54percent
Answer:
B. Taking a friend to lunch in return of a favor
Explanation:
Barter System is direct commodity/ service to commodity/service exchange , without using money as an intermediary exchange medium . It is also called C to C exchange .
Eg : Two farmers exchanging their wheat & rice , A teacher teaching grocers' child in exchange of groceries from him .
So : A. Simple Investment , C. Money Purchase , D. Money Denomination exchange - neither are examples of Barter System .
B . Paying off a friend's favour in exchange of a service (being service-service exchange) is a relatable example.
