Answer:
The correct answer is option b.
Explanation:
A worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year.
A worker in Sylvania can produce either 2 units of corn or 6 units of wheat per year.
The opportunity cost of a unit of corn for Freedonia
=
= 0.33
The opportunity cost of a unit of corn for Sylvania
=
= 3
So, we see that Freedonia has a comparative advantage in producing corn as it has a lower opportunity cost.
The opportunity cost of a unit of wheat for Freedonia
=
= 3
The opportunity cost of a unit of wheat for Sylvania
=
= 0.33
So, we see that Sylvania has a comparative advantage in producing wheat as it has a lower opportunity cost.
With 10 workers, Freedonia will produce 60 units of corn and 0 units of corn and Sylvania will produce 60 units of wheat and 0 units of corn.
Without trade, Freedonia produces and consumes 30 units of corn and 10 units of wheat per year. Sylvania produces and consumes 10 units of corn and 30 units of wheat.
The war has caused the combined yearly output of the two countries to decline by 20 units of corn and 20 units of wheat.
An entrepreneur innovate and create market demand.
<h3>
Who is an entrepreneur?</h3>
An entrepreneur is an individual that creates a new business by identifying people's need and bearing the risks attached to the business thereby making rewards.
An enterprenuer innovates by creating new ideas which are marketable.
Therefore, An entrepreneur innovate and create market demand.
For more information on entrepreneur kindly check brainly.com/question/1394707
Answer:
Cartel
Explanation:
A cartel is an association of large businesses that formally agree to work together to protect their interests. Cartels regulate supply to the markets and manipulate prices. Once formed, the cartel behaves as a single entity. Its objective is to maximize profits for each member.
The three organizations have come together and allocated themselves to regional markets. Each business will have full control of the market in its designated area. To maximize profits, cartel agree to
- set high prices
- restricts market supply
- breakdown market into territories or regions
Answer:
D) The normal balance of an expense account is a credit.
Explanation:
We know that
The debit sections report assets and expenses side while sales, stockholder equity, and the liability side are reported in the credit section.
So as per the given options, the incorrect answer is D as expense account has a debit balance but the question it is given that the expense account has a credit balance that is totally wrong.