So this question is too complicated for a forum like this to answer all parts.
I can help with a few of the first ones.
A. To figure opportunity costs, you find the ratio between producing all wine versus producing all butter.
In this case Germany: if Germany only produces wine they make 300 units. If they only make butter they make 1200 units. So the opportunity costs would be 1200/300 or 4. For every one unit of wine, you give up 4 units of butter.
B. Absolute advantage is the country the can produce the most units overall.
C. Comparative advantage is the country that has the capability of producing the most of one specific product. I.E. who can produce the most butter or wine.
D. I cannot draw that here.
E. I would rethink the answer on your sheet. Think about the above example of opportunity cost. Is it worth Tom Brady giving up time thinking about football to mow his lawn? How much opportunity cost would be there?
i would its because to profit motive i think.
Answer: c
As store shrinkage is the loss of inventory that can be attributed to factors such as employee theft, shoplifting, administrative error, vendor fraud, damage, and cashier error, Karan would have to make sure there is enough products and keep track of the sales/stocks. Thus, I believe that it would be c, so Karan can keep track of the monthly sales. Feel free to let me know if I'm wrong!
Answer:
B. The majority of a nation's land, factories, and other economic resources are privately owned.
Explanation:
A market economy represents an economic system where the interactions of private individuals and businesses determine the pricing of goods and services as well as most economic decisions.
To this end a vast amount of the economic resources of the nation are owned by private businesses as well as individuals. These economic resources include land, buildings among others.
The market economy is based on the theory that when government intervenes in the economic activities of an organization it lead to economic inefficiencies.
