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amid [387]
3 years ago
6

An individual has a comparative advantage in producing a good or service if the opportunity cost of producing the good or servic

e is higher for that individual than for other people. This is _____. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices false
1. True
2. False:
Business
1 answer:
My name is Ann [436]3 years ago
8 0

Answer:

2. False

Explanation:

A person has comparative advantage in production if he produces at a lower opportunity cost when compared with other people.

For example, there are two bakers, Jean and Vincent. Vincent can produce either 5 cakes or 10 pizzas in 1 hour while Jean can produce either 8 cakes or 12 pizzas in one hour.

The opportunity cost for producing cake is:

Jean = 10/5 =2

Vincent = 12 / 8 = 1.5

Vincent has a lower opportunity cost when compared with Vincent in the production of cake, therefore, he has a comparative advantage.

I hope my answer helps you

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Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers? Select two answe
GaryK [48]

Answer:

Option 1 and 2

Explanation:

Complete Question

Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers?

CHECK ALL THAT APPLY.

  1. High school athletes stop shopping there.
  2. The inventory of sports socks goes unsold.
  3. Publicity for the store declines.
  4. Profits decline because dress shoes cost less than sneakers

Solution

Sole Sister Shoe Store chooses to sell dress shoes over sneakers because  the customers of sneakers stopped shopping from the store. Sneakers are mainly purchased by the high school athletes over any other footwear. Now, they stopped shopping and hence  Sole Sister Shoe Store started selling dress shoes

Also, sports socks' inventory is unsold indicating the reduction in sale of sneakers and hence the Sole Sister Shoe Store started selling dress shoes

7 0
3 years ago
All interest rates in the economy are set by the federal reserve. true or false
aivan3 [116]

Answer:

False

Explanation:

Most interest rates in the economy are not set by federal reserve. For example, banks decide what interests to pay different kind of deposits and charge loans of different risks on their own (with consideration for competition and profitability).

What the Fed does is set important rates (discount rate and funds rate) that influence other interest rates in the economy.

6 0
3 years ago
When the amount of insurance written in a property policy is not subject to any coinsurance provision and that amount is paid in
enot [183]

When the amount of insurance written in a property policy is not subject to any coinsurance provision and that amount is paid in the event of a covered loss, the coverage is said to be written as stated amount.

<h3>What is stated amount?</h3>

A stated amount is the value or amount the owner of a property gives as the worth of the property.  This can be for your vehicle and it is provided to the insurer.

The stated amount is given for insurance to show the worth of a property that is insured.

Insurance helps to prevent total loss on a property incase of some unforeseen circumstance.

Therefore, When the amount of insurance written in a property policy is not subject to any coinsurance provision and that amount is paid in the event of a covered loss, the coverage is said to be written as stated amount.

Learn more on stated amount below

brainly.com/question/18276040

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4 0
2 years ago
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