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4 years ago

How do comparative advantage and absolute advantage differ?

1 answer:

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Absolute advantage is the ability to produce a good using fewer inputs than another producer, while comparative advantage is the ability to produce a good at a lower opportunity cost than another producer (reflecting the relative opportunity cost). One key difference is that one person can have an absolute advantage in both goods, but it is impossible for one person to have a comparative advantage in both goods due to the opportunity cost of a product being the inverse of the opportunity cost of the other.

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Manuel is a manager for a manufacturing company in which managers are expected to fully document all decisions and in which it i

ikadub [295]

Answer: Low risk taking culture

Explanation:

Organisational culture includes the behaviour, beliefs, value and principles in which an organisation operates on. It's entails the way business are done, decisions are made etc.

Low risk taking is an organisation culture aimed at minimising risks. Recommendations and Decisions are based on facts and genuine data not on abstract and unreal thoughts with decisions fully documented.

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3 years ago

Which of the following statements about torts is correct?

swat32

Hello There!

Your answer would be C). A tortious act may also be a criminal act.

The reason why C would be your answer is because a tortious act is something that harms someone in any way. The reason why it "may" be a criminal act is because determine if the tortious act is a criminal act really depends on the scenario that is occurring. For example, someone could cause a tortious act in a way of self defense, this scenario would be debatable because the person that committed the tortious act had a valid reason in doing so, and that was protecting themselves. But, if a person was to cause a tortious act by hurting someone to steal from them, then that would definitely be a criminal act because they are performing dangerous things to someone else, and the person could file a lawsuit against it.

Let's dive into why the other answer choices are incorrect. We can use the old fashion process of elimination:

Answer choice "A). A tortious act is always a criminal act" is incorrect because it is not always a criminal act, it depends on the scenario it's in. This is the reason why this answer choice would be eliminated.

Answer choice "B). A criminal act is always a tortious act" is incorrect because there are MANY criminal acts that doesn't harm anyone, for example, tax evasion (not paying taxes) is a criminal act, but does not cause any harm to anyone. This is the reason why this answer choice would be eliminated.

Answer choice "D). A tortious act is the same as a contract dispute" is incorrect because harming someone is not the same as not doing what a contract says. A contact dispute is when someone that's part of a contract did not do a duty that the contract says that they're suppose to do, and that usually doesn't have to be any harm to anyone. That would not be the same as a tortious act, harming someone. This is the reason why this answer choice would be eliminated.

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3 years ago

What are 4 status types that can be assigned to an estimate in QuickBooks Online?

Kipish [7]

Answer:

The status of estimates in QuickBooks Online is Pending, Accepted, Closed and Rejected.

Explanation:

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3 years ago

Allison will graduate from high school next June. She has ranked her three possible post-graduation plans in the following order

Dmitrij [34]

Answer:

tutoring opportunity cost: 20,000 consulting job

consulting job opportunity cost: 5,000 + travel from tutoring

collegue: 20,000 consulting job

Explanation:

opportunity cost: cost of the best rejected project, proposal or income

income from work as a consulting job: 20,000

income from tutoring: 5,000 ( externality of travel around the world)

collegue cost of 5,000

The tutorng has an externality of travel around the world. We can measure how much Allison values that chances but it is something she will consider when picking her plan.

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4 years ago

In Michelle's group, individual members are beginning to assert their personalities, and the group is beginning to experience in

lakkis [162]

Answer:

The correct answer is "storming stage"

Explanation:

The term storming refers to a particular stage of group development where the members may also compete over their roles and responsibilities, This phase is characterized by the members begin to assert their personalities, and the group is beginning to experience interpersonal conflict among its members.

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4 years ago