The most obvious benefit of specialization and trade is that they allow us to: <span>Consume more goods than we otherwise would be able to consume
When we do specialization, we could produce the goods that provide competitive advantage for us so we can produce that goods in a huge amount.
After that, we can trade the goods with other goods (which gives competitive advantage to other country) and trading countries could consume goods on a huge amount.</span>
Answer:
Please see below
Explanation:
a. Current ratio
= Total current assets / Total current liabilities
= $262,787 / $293,625
= 0.89
b. Debt to assets ratio
= Total current liabilities / Total assets
= $293,625 / $439,832
= 0.67
c. Free cash flow
= Net cash provided by operating activities - Dividends - Capital expenditure
= $62,300 - $12,000 - $24,787
= $15,685
Answer:
Creating a data warehouse
Explanation:
Customer relationship management or CRM aims at creating and maintaining good customer relationships, providing better customer satisfaction so as to increase sales.
CRM focuses upon providing good customer support and customer feedback.
The primary step, in Customer Relationship management is creating a data warehouse. Data warehouse refers to a database from where extraction of customer details gets convenient.
Such database can be used for data analysis and reveals customer habits and past purchase trends.
When the price of an inferior good falls, the substitution effect leads to an increase in the quantity purchased and the income effect leads to a decrease in the quantity purchased.
An inferior good is something consumers would purchase only if they had more income so if the price falls, customers are able to afford to use this product as a substitute to an item of lower price that they currently purchase.
