Answer:
If you can prevent a nonpaying consumer from having access to a good or service, that good is excludable. For example, only clients that buy a ticket can enter a movie theater and watch the movie.
A good or service that can be consumed by only one consumer (or a specific number of consumers) is rival in consumption because other people cannot consume them simultaneously. For example, once the movie theater sold out, no more people can get inside and watch the movie.
Answer:
Both Hillyland and Flatland will be better off in a win-win solution if they engage in comparative advantage.
Explanation:
Suppose each nation decides to specialize in the most suitable crop, and trade with the other nation for the other product, the trade-offs will be the products they supposedly can produce but do not have comparative advantage in. For Hillyland it will be rice and for Flatland it will be coffee.
When both nations practice comparative advantage there will be no losers because economic theory suggests that, when countries practice comparative advantage, the sum total of their combined output will be greater than if they had produced all products themselves because they wanted to be self sufficient.
The logic is simple, goods are less costly to produce in a country that has comparative advantage and at the end they could be sold cheaper to the country that traded it off.
Answer:
report talk
Explanation:
The conversation between Pat and Gerard is a classic example of report talk, where the individuals included in the conversation simply state facts about various things, giving little to no emotions into what they talk about.
This conversation ritual is opposed to rapport talk, where emotions and empathy are infused in the conversation.
Answer:
A significant difference between public and private collective bargaining is the right to strike, which is a cornerstone of the private sector.
Answer:
Fiat money is paper money, when commodity money is made from valuable objects that can be used for trade.
Explanation:
