Answer:
The correct answer is letter "C": claims that economic well-being is enhanced if each country's citizens produce that which they have a comparative advantage in producing relative to the citizens of other countries, and then trade production.
Explanation:
Comparative advantage is an advantage that an individual, organization o country has that allows them to produce at lower opportunities costs compared to competitors. This scenario does not mean the individual or organization has an absolute advantage over their business rivals.
If individuals of a country would concentrate ton producing that at which they have a comparative advantage compared to other countries so they can exchange the output with other nations., they would lead their country to success.
Answer:
Explanation:
The rate of production is determined by the slowest step or process.
Determine the rate of production of each step.
<em>1. The Cutting department has 6 machines that each process materials at a rate of 2 minutes per unit. </em>
- rate = number of machines × rate of each machince
- rate = 6 × 1 unit / 2 minute = 3 units / minute
<em>2. Drilling has 6 machines that each process materials at a rate of 3 minutes per unit. </em>
- rate = number of machines × rate of each machince
- rate = 6 × 1 unit / 3 minute = 2 units / minute
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<em>3. Stamping has 6 machines that each process materials at a rate of 4 minutes per unit. </em>
- rate = number of machines × rate of each machince
- rate = 6 × 1 unit / 4 minute = 1.5 units / minute
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<em>4. Welding has 4 machines that each process materials at a rate of 2 minutes per unit. </em>
- rate = number of machines × rate of each machince
- rate = 4 × 1 unit / 2 minute = 2 units / minute
<em>5. Painting has 2 machines that each process materials at a rate of 4 minutes per unit. </em>
- rate = number of machines × rate of each machince
- rate = 2 × 1 unit / 4 minute = 0.5 units / minute
Then, the fifth process, painting is the slowest process because it only can process 0.5 units per minute. This is the bottleneck. Even if the other processes worked faster, the production could not exceed the number of machines that can be painted per hour.
To find how many units can be painted or produced by hour multiply the rate by the number of minutes in one hour:
- 0.5 units/min × 60 min/hour = 30 units / hour.
Therefore, the capacity of the entire five-step process is 30 units per hour.
<span>Many of smashburger's competitors combine a burger, fries, and a drink offered at a reduced "combo" price. This practice is known as product bundle pricing.
Product bundle pricing is when a store will combine items together and do a value price on them as a bundle. Each item has a price they can pay to purchase an item separately but there is a special price and it's usually a better deal when you purchase it in a bundle.
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100% Inspection method is the quality control technique that attempts to keep errors from reaching the final customers.
100% inspection method is a quality control technique which involves assessing and looking at all the parts of a product.
This type of quality control is done to rule out flaws in products so that they do not reach to the customers.
This method is commonly used to evaluate the valuable metals and products.
When conducting the 100% inspection method data about the manufacturing process is required and software is also needed to analyze inventory of the products.
To know more about the quality control techniques here:
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The normal rate of return on equity capital is also known as the opportunity cost of capital