Answer: A) The absolute advantage is the ability of a person, company or country to produce a good, having to use less production factors than another. Therefore Susan has an absolute advantage in math.
B) The basis for trade between Susan and Tom is that Susan should devote herself to specializing in solving math problems since she is more efficient at it, and Tom must write stories.
C) First the opportunity costs must be taken into account:
For Susan 7.5 mathematical problems = 1 story.
For Tom 5 math problems = 1 story
In this way Tom has the possibility of changing Susan 1 story for between 5 and 7.5 math problems and if Susan changes 6 math problems for 1 story.
Susan would have 9 math problems and 1 story which she wouldn't be able to get by herself.
Answer:
The correct answer would be A, Technician B is correct.
Explanation:
Using Aluminum ladder on a construction site is not a good choice at all. It conducts electricity and can give a power shock to someone if electricity gets conducted through it by any chance. Secondly, when it will be used on the construction site in open air under the sun, the aluminium ladder would get hot and workers wont be able to easily climb through it. Using wooden ladder would lessen the chances of any injury or casualty on the construction site due to electricity shock. So technician B is right who suggests that wooden ladder should be used instead of aluminium ladder.
Answer:
c. 583.5
Explanation:
The forecast for the Tacos in the month of June will be 583.5. The forecasting technique help the businessmen to plan and organize their business activities according to the expected demand. There can be slight deviation from forecast or in some case there can be major deviation due to unexpected events. Seasonal effects are also considered when forecasting sales for the product.
Substitute goods are those goods which as a result of change in market conditions such as changes in price can replace one another for example mountain water and natural water. They are goods with positive cross elasticity demand unlike the complementary goods (goods that are used together). In this case, if the price of mountain water decreases, the fall in price shifts the demand curve for natural water leftward. This means there will be an increased demand for mountain water and a decreased demand of natural water.
Answer:
1. NOT INCLUDED IN THE GDP, TREETOPPLERS PRODUCES INTERMEDIATE GOODS, NOT FINAL GOODS.
2. NOT INCLUDED IN THE 2017 GDP, IT WOULD BE INCLUDED IN THE 2018 GDP SINCE THE SERVICE WAS FINISHED IN APRIL 2018.
3. INCLUDED IN THE GDP, A HAMBURGER IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.
4. NOT INCLUDED IN THE GDP, IMPORTS ACTUALLY DECREASE THE GDP SINCE THEY DECREASE NET EXPORTS.
5. INCLUDED IN THE GDP, A TABLE IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.
