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Mazyrski [523]
4 years ago
7

Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patter

ns, absolute advantage or comparative advantage? Why?
Business
1 answer:
amm18124 years ago
8 0

Answers and explanation:

A) There's an absolute advantage when a nation can manufacture a product at a higher quality and faster pace than another. Comparative advantage is based on the opportunity cost of choosing an alternative option, which is the gain one forfeits. If one nation has a lower opportunity cost to manufacture a good than another it has a comparative advantage.

B) <em>Trade patterns can be easier identified using an absolute advantage</em> since it implies analyzing the worldwide market and determining what products are produced by different countries and at what speed regarding the demand of the product by other nations.

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Which individual is responsible for ordering, preparing, and reviewing closing-related documents, such as the title policy and s
Ilia_Sergeevich [38]

The closing agent is responsible for ordering, preparing, and reviewing closing-related documents.

<h3>Who is a Closing agent?</h3>

This is a professional who deals in real estate transactions and acts a middle man between the buyer and the seller.

He ensures the transfer of the legal title is appropriately done by preparing and reviewing closing-related documents, such as the title policy and settlement statement.

Read more about Closing agent here brainly.com/question/20787805

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8 0
2 years ago
Suppose that a demand curve exhibits two points. Initially, at price P 0 P0 , the quantity demanded is Q 0 Q0 . When price chang
Vinvika [58]

Answer:

Price Elasticity of Demand= \frac{Percentage change in Demand}{Percentage change in Price}

At Price = P_{0}

Quantity demanded = Q_{0}

At Price = P_{1}

Quantity Demanded = Q_{1}

Now,

Percentage change in Demand = \frac{(Q_{1} - Q_{0})}{Q_{0}}

Percentage change in Price = \frac{(P_{1} - P_{0})}{P_{0}}

Price Elasticity of Demand = \frac{\frac{(Q_{1} - Q_{0})}{Q_{0}}}{\frac{(P_{1} - P_{0})}{P_{0}}}

Above formula if used will give the correct answer related to Price Elasticity of Demand.

Another variant of above formula is also being used on prominent basis.

Price Elasticity of Demand = \frac{\frac{(Q_{1} - Q_{0})}{(Q_{1} + Q_{0})} }{\frac{(P_{1} - P_{0})}{P_{1} + P_{0}} }

Utilization of any of the above Formula will give the ideal outcome in estimating Price elasticity of demand.

5 0
4 years ago
What are the 10 categories of business law?
AysviL [449]

Answer:

There are 10 categories of business law which are :

  • Contracts,
  • Securities Law,
  • Intellectual Property,
  • Income Tax,
  • Pensions & Benefits,
  • Trusts & Estates,
  • Immigration Law,
  • Labor Law,
  • Employment Law and
  • Bankruptcy.

Business laws have different fields which at taught in the law school. Like criminal law, Business law is also a category of law and these are the categories of business law which focuses on the working of corporations and businesses.

8 0
3 years ago
A marketing __________ is defined as the means by which a marketing goal is to be achieved. it is characterized by a specified t
Veseljchak [2.6K]
I think a marketing campaign or a marketing program is your answer to the question.

Hope it helps
Sorry if it is wrong 
8 0
4 years ago
Ramanond Technologies is an independent business that facilitates foreign exchange trades. In the context of institutions that m
earnstyle [38]

Answer:

Fiscal investors.

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Basically, trade can be categorized into two (2) main groups and these are;

I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.

II. Export: it involves the sales of goods produced in a domestic country to a foreign country.

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Under globalization, a fiscal investor refers to an independent business that facilitates or enhances foreign exchange trades between two or more countries.

This ultimately implies that, fiscal investors are institutions or business firms that make it possible for foreign exchange to take place with respect to the buying and selling of goods and services between countries.

8 0
3 years ago
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