The five foundations of trade are:
- incentives
- tradeoffs
- opportunity cost
- marginal thinking,
- principle that trade creates value.
<h3>Why do we engage in trade?</h3>
There are five main foundations of trade that are the reason why people engage in trade. One of them is the profit incentive to make money from trade. Another is the tradeoffs that people are forced to make to survive.
Opportunity cost also leads to trade because people give up one thing for another and so may have to sell the thing they gave up to receive the thing they want. There is also the principle which posits that when we trade, value is created. Finally, there is marginal thinking which is thinking along the lines of the benefit of one additional unit.
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In the long run, if inputs are increased by 10 percent and output increases by 20 percent, then diseconomies of scale are said to exist. It is because diseconomies of scale is likely to happen in the long run for a business with increasing inputs without decreasing the cost of production. It can happen when the increase in production is dependent on one part that needs to be completed but there is a delay on producing the parts. Another reason is that the cost of shipping may increase base on how far will be the distance and the weight of the product.
Answer:
identifico a gato población feo
Explanation:
la respuesta es pelagato
Answer:
Utility
Explanation:
In economics satisfaction and pleasure is defined as a utility. When a person drinks water he/she gains utility that is a sense of satisfaction. The most important factor that increases or decreases the demand for a particular commodity is how much utility or satisfaction it provides to the end-user. Overall, the concept was first explained by Jeremy Bentham and John Stuart Mill.
When it comes to calculating property tax, the most relevant amount is the assessed value of <u>$387,000.</u>
When calculating property tax, the useful figures are:
- The assessed value of the house
- The Property tax rate
This assessment is arrived at in various ways but once it is arrived at, it is then multiplied by a figure known as the mill levy and the result will be the property tax.
In conclusion, the assessed value is most useful.
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