Answer:
$2.4074/pound
Explanation:
The law of one price states that the same good in two different countries must be sold for the same amount of money, which means that the $/pound spot rate must ensure that wheat costs the same on both countries.
Therefore, the spot rate 'r' is:
The spot rate should be $2.4074/pound.
Answer:
The question : What kinds of things does a manufacturer produce if rephrased is simply the same as asking what to produce.
The question : What kinds of things does a manufacturer produce if rephrased is simply the same as asking what to produce.The question of what to produce is one of the basic economic problems that confront any society.
The question : What kinds of things does a manufacturer produce if rephrased is simply the same as asking what to produce.The question of what to produce is one of the basic economic problems that confront any society. This problem arises mainly as a result of the fact that human wants are unlimited relative to the available resources .
The question : What kinds of things does a manufacturer produce if rephrased is simply the same as asking what to produce.The question of what to produce is one of the basic economic problems that confront any society. This problem arises mainly as a result of the fact that human wants are unlimited relative to the available resources . It is practically impossible to produce all human wants or needs hence the need for resource allocation in order to meet the pressing needs of people .
The question : What kinds of things does a manufacturer produce if rephrased is simply the same as asking what to produce.The question of what to produce is one of the basic economic problems that confront any society. This problem arises mainly as a result of the fact that human wants are unlimited relative to the available resources . It is practically impossible to produce all human wants or needs hence the need for resource allocation in order to meet the pressing needs of people .Some factors help to determine what to produce such factors are
The question : What kinds of things does a manufacturer produce if rephrased is simply the same as asking what to produce.The question of what to produce is one of the basic economic problems that confront any society. This problem arises mainly as a result of the fact that human wants are unlimited relative to the available resources . It is practically impossible to produce all human wants or needs hence the need for resource allocation in order to meet the pressing needs of people .Some factors help to determine what to produce such factors are The consumers' needsThe market demand The consumer income The costs of production and many more.After all these factors have been considered , a manufacturer can now decide to make(produce) things such as automobiles , home appliances , foodstuffs and many more.
