Answer:
works because prices serve as a means of communication between consumers and producers.
Explanation:
Market mechanism is the money is used as a medium of exchange between buyers and sellers in a open system of value (market).
In the market mechanism consumers are interested in maximising utility, while sellers want to maximise profit.
Demand and supply mechanics works to properly allocate resources according to fluctuations in price.
So market mechanism is successful because price has become a means of communication between buyers and sellers in their mission to maximise utility and profit.
Answer:
A. environmental damage due to increased production.
Explanation:
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.
Hence, one of the major advantages of globalization is that, it has ensured or made it possible such that economic and environmental conditions in different countries of the world are related and linked with the intention of generating revenue and profits while providing goods and services to meet the demands or requirements of various consumers across the world.
However, one major negative effect of globalization has been environmental damage or pollution due to increased production by various companies across the world.
Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.
Explanation:
By comparing the opportunity cost of producing wine in the two countries, you can tell that Spain has a comparative advantage in the production of wine and Denmark has a comparative advantage in the production of rye.
Spain can gain from specialization and trade as long as it receives more than 5 of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than 1/10 of wine for each bushel of rye it exports to Spain.
The terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade :
9 bushels of rye per bottle of wine
8 bushels of rye per bottle of wine
Answer:
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<span>An account that would be increased by a debit is A. cash.
Cash account is the only account among these up there which would be increased by a debit. Credit is the type of money which you take from your account; on the other hand, debit is the money that you pay into your account, so obviously you will have more money in your cash account if you pay money into it.
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