1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
UNO [17]
3 years ago
14

How do comparative advantage and absolute advantage differ?

Business
1 answer:
konstantin123 [22]3 years ago
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.

You might be interested in
A company purchased a delivery van for $30,000 with a salvage value of $6,000 on January one, Year 1. It has an estimated useful
insens350 [35]

Answer:

The depreciation expense for Year 1 under units of production method is $5200.

Explanation:

The units of production method of depreciation charges the depreciation expense based on the activity level for which the asset was used during a period. There is an estimated useful life of the asset in terms of how many units it is expected to produce through out its useful life. The formula for units of production method of depreciation is,

Depreciation charge per unit = (Cost - Salvage value)  /  Total estimated useful  of asset in units

Thus, per unit depreciation is =  (30000 - 6000) / 60000    =  $0.4 per mile

In the first year, the asset is used for 13000 miles so depreciation expense for the year is,

Depreciation expense Year 1 = 0.4 * 13000  =  $5200

4 0
3 years ago
Melinda kept a record of her spending for the week. She spent $25 to put gas in the car, bought a new shirt for a total of $22.3
shtirl [24]
She spent 93.04 doing the week
4 0
2 years ago
What kinds of action could you take when you execute your decisions in the ipde process?
8_murik_8 [283]

When you apply the IPDE process, you may decide to change speed, change path, or communicate with others. The smith gadget is a method of organizing space zones around your vehicle. There are six zones of the area surrounding your vehicle inside the sector control system.

Carrying out your decision to avoid a conflict is the Execute step in the IPDE technique. this is the physical step of IPDE. The important moves you could execute are: manipulating pace, steering, and talking. Different actions include: using the heater, defroster, and wipers.

IPDE stands for pick out, are expecting, decide, and Execute. this is the step-by means of-step method in the back of the ideas of defensive riding and the complexities of visual perception in traffic.

The first step in the IPDE manner is to become aware of viable hazards. the second step within the IPDE procedure is to expect approximately what should take place. you'll use your information and judgment and enjoy. The third step within the IPDE process is to decide or choose.

Learn more about IPDE process here: brainly.com/question/2497669

#SPJ4

4 0
1 year ago
You are working on a client-driven project. You were told very specific operating guidelines up front, and the client has used t
Juli2301 [7.4K]

Answer:

The correct answer is letter "C": Offer to make the changes to the product and explain to your supervisor what happened.

Explanation:

In front of every problematic situation, a solution must be offered beforehand. If the other party is alleging were are guilty of something, we must review what or role in the situation was to confirm if we did what we were requested to do. Just like in the example, the guidelines we were hired for were met but the client replied stating they were not. In such a case, the whole situation must be explained to the supervisor in charge.

4 0
2 years ago
Jarvis is a coffee farmer who wants to hedge his entire coffee crop that will be harvested by September. The December coffee con
aleksandr82 [10.1K]

Answer: Sell four December coffee future contracts at $2.00 per pound

Explanation:

Based on the scenario in the question, the number of contracts that is required for hedging the entire crop will be gotten by dividing the total number of crops by the pounds that are available in one contract. This will be:

= 150,000/37,500

= 4 contracts

Therefore, the answer will be for Jarvis to sell four December coffee future contracts at $2.00 per pound

6 0
3 years ago
Other questions:
  • Suppose you are the owner of a picture frame store and your current fixed costs total $50,000 (real estate taxes, interest on a
    15·1 answer
  • Direct labor cost is classified as: Conversion cost Prime Cost A) Yes Yes B) No No C) No Yes D) Yes No Choice A Choice B Choice
    8·1 answer
  • Suppose you borrow​ $1,000 at an interest rate of 12 percent. if the expected real interest rate is 5​ percent, then the rate of
    7·1 answer
  • Many products available to the public before world war i contained _______, which was accepted early on as a relatively harmless
    6·1 answer
  • Which of the following is an advantage associated with the matrix organization? ​ a. Hard to monitor and control. b. Shorter res
    7·2 answers
  • During the employee selection process, the screening interview is often conducted by: the current workers in the applicant's dep
    9·1 answer
  • You purchased 1,350 shares of stock in Natural Chicken Wings, Inc., at a price of $43.58 per share. Since you purchased the stoc
    5·1 answer
  • The following summarized Cash T-account reflects the total debits and total credits to the Cash account of Thomas Corporation fo
    14·1 answer
  • MC Qu. 138 Fortune Company's direct materials... Fortune Company's direct materials budget shows the following cost of materials
    7·1 answer
  • ________ refers to the strategy of getting visitors to a Web site to forward information on the site of their friends in order t
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!