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3 years ago

How do comparative advantage and absolute advantage differ?

1 answer:

3 0

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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What nonprofit organization distributes knowledge related to health care for the purpose of improving health to governmental age

Fed [463]

Options:

a. Institute for Safe Medication Practices.

b. Institute of Medicine.

c. National Committee for Quality Assurance.

d.The Joint Commission.

Answer:

b. Institute of Medicine.

Explanation:

Interestingly, according to information found on its website, the The Institute of Medicine (IOM) is an independent, nonprofit organization that provides advice to decision makers and the public, which includes distributes information related to health care for the purpose of improving health to governmental agencies, the public, business, and healthcare professionals.

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3 years ago

Accounting is an information and measurement system that: I.Communicates business activitiesII.Identifies business activitiesIII

andriy [413]

Answer:

I.Communicates business activities

II.Identifies business activities

III.Records business activities

IV.Helps people make better decisions

Explanation:

Accounting is an information measurement system that identifies business activities, records the business transactions as they occur, in order in which they occur, communicate the result of operations to interested parties which helps all the stakeholders make informed decision.

The main goal of accounting information is to communicate the true and fair view position of the entity to people that may want to make informed judgment on the entity.

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3 years ago

A communication plan is a key component for giving guidelines on how to track project:________a. Issues.b. Costs.c. Defects.d. B

AfilCa [17]

Answer: a. Issues

Explanation:

A Communication plan for a project allows for easier information flow between the stakeholders in the project including the client, the company and the workers.

By setting standards on how and what should be communicated the plan will let the stakeholders know how to communicate any issues affecting the project. The plan will also let the stakeholders know how to track issues that will be reported.

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3 years ago

Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was o

My name is Ann [436]

Answer:

The preparation is shown below:

Explanation:

The preparation of the physical flow schedule is presented below:

Beginning work in process units 80,000 units

Units started in process 95,000 units

Total units to account for 175,000 units

Units accounted for:

Units completed and transferred out:

Started and completed 78,000 (95,000 units - 17,000 units)

Beginning work in process 80,000

Ending work in process units 17,000

Total units accounted for 175,000

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2 years ago

Alfonzo's Italian House has 25,000 shares of stock outstanding with a par value of $1 per share and a market price of $36 a shar

Liono4ka [1.6K]

Answer:

$18

Explanation:

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2 years ago