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3 years ago

When discussing comparitive and absolute advantage, which best describes specialization

SAT

2 answers:

Dvinal [7]3 years ago

5 0

Answer:

Limiting the types of goods and services produced

Explanation:

irinina [24]3 years ago

5 0

The term Absolute advantage describes the specialization in the production of a product or service.

<u>Explanation:</u>

A firm is said to have an absolute advantage over the other firms only if it produces the same number or amount of goods or services from fewer resources than the others.

For example, if a Company "X" produces 10 caps in an hour using 3 workers and Company "Y" produces 15 caps an hour using 3 workers then we can say Y has an absolute advantage over X.

A person, group or company is said to have a comparative advantage if it produces something at a lower cost than the other companies. Here, the opportunity cost is also lower which means that the company did not face any kind of large opportunity loss.

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Mario is making chocolate. In part of the chocolate-making process, he changed

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The molecules of the solid started to loosen up and separate causing it to turn into liquid.

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3 years ago

There are 23 countries in North America, 12 countries in South America, 47 countries in Europe, 44 countries in Asia, 54 countri

natta225 [31]

The probability for each event follows below:

P(A)= 0.23

P(E)= 0.24

P(F)= 0.28

P(N)= 0.12

P(O)= 0.07

P(S)= 0.06

<h3>Probability</h3>

Probability can be defined as the possibility that an event will occur. For an event, the probability can be found from the ratio between the number of favorable outcomes for the event and the total number of outcomes. Values of probability vary between 0 and 1.

A probability for an event is represented by P(A), P(B), etc. And exactly this that question asks for you.

1. Arrange the text of the question

North America=23 countries

South America= 12 countries

Europe= 47 countries

Asia= 44 countries

Africa =54 countries

Oceania= 14 countries

2. Find the total of countries

$N_{total}=23+12+47+44+54+14=194$

3. Find P(A)

A= the event that a country is in Asia= 44 countries. Therefore,

$P(A)=\frac{numberofcountries of Asia}{Total number of countries } \\ \\ P(A)=\frac{44}{194} =0.23\\ \\ P(A)=0.23$

4. Find P(E)

E= the event that a country is in Europe= 47 countries. Therefore,

$P(E)=\frac{numberofcountries of Europe}{Total number of countries } \\ \\ P(E)=\frac{47}{194} =0.24\\ \\ P(E)=0.24$

5. Find P(F)

F= the event that a country is in Africa= 54 countries. Therefore,

$P(F)=\frac{numberofcountries of Africa}{Total number of countries } \\ \\ P(F)=\frac{54}{194} =0.28\\ \\ P(F)=0.28$

6. Find P(N)

N= the event that a country is in North America= 23 countries. Therefore,

$P(N)=\frac{numberofcountries of North America}{Total number of countries } \\ \\ P(N)=\frac{23}{194} =0.12\\ \\ P(N)=0.12$

7. Find P(O)

O= the event that a country is in Oceania= 14 countries. Therefore,

$P(O)=\frac{numberofcountries of Oceania}{Total number of countries } \\ \\ P(O)=\frac{14}{194} =0.07\\ \\ P(O)=0.07$

8. Find P(S)

S= the event that a country is in South America= 12 countries. Therefore,

$P(S)=\frac{numberofcountries of South America}{Total number of countries } \\ \\ P(S)=\frac{12}{194} =0.06\\ \\ P(S)=0.06$

Learn more about probability here:

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2 years ago

Alterations in various aspects of society over time.

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alterations in various aspects of society over time according to pitrim Sorkin cyclical theory of social change the principle of immant change is the natural tendency of a society structure to swing back and forth between the ideotional and sensate culture

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3 years ago

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Now that we have gotten to know Humbug more... what is a common character trait for him?

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He’s really selfish and he talks a lot

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3 years ago

Which of the following is not an advantage of flexibility?.

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Answer:

improved energy production