Answer:
The plant would have to work 8.33 hours
Explanation:
Initial productivity:
100 parts were produced in 1 hour
Percentage increase in productivity = 20%
New productivity:
100 + (100 × 0.2) = 100 + 20 = 120
120 parts would be produced in 1 hour
Number of hours the plant would have to work to produce 1000 parts = 1000/120 = 8.33 hours
Probably “would you enjoy reading a fashion magazine”
Answer:
It has more than 7,000 factories overseas that manufacture products for the company.
Explanation:
Answer:
its cost is least in terms of alternative goods that might otherwise be produced
Explanation:
Comparative Advantage
This is simply explained as when an individual has an opportunity cost of performing a task is lower than the other individuals opportunity cost that is it is more efficient. It is the usual fundamental basis for international trade. Its principle includes production at a maximum peak to be achieved if each individual focus on the job or activities for which his or her opportunity cost is lowest.
Opportunity Cost
This is simply known as the highest valued of an alternative that must be given up so as to be involved or engage in an activity/job or task. There are several sources of a comparative advantage. They includes;
1. Climate and natural resources
2. Relative abundance of labor and capital
3. Technology
4. External economies etc.
A benefit of adopting the euro as a common currency is that it makes it easier to compare prices across Europe.
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Explanation:</u></h3>
When the same currency type is used in different group of people or different geographic locations, it refers to the common currency. In European Nations the common currency that is being used in Euro and in U.S the common currency used is dollar. There are many benefits that are associated with the usage of common currency.
It helps in reduction of transaction cost, Price transparency, expands markets, enhances the currency stability,etc.In the example given, the prices of roses at different regions of Europe were found to be different. The prices of the rises are expressed in Euros. The use of common currency here facilitates and makes easier to compare prices across Europe.