Answer:
- Gains from trade
- Consumer Satisfaction
- Greater Efficiency
- Growth Opportunities
Explanation:
According to Investopedia, specialization is a method of production where an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
A country can specialize on the production of a particular commodity or service that is peculiar to their part of the world giving them the opportunity to become very efficient and have more opportunities for growth. Some of the benefits of specialization in a country include;
- Economies of scale/ greater efficiency: A country that is involved in specialized production will have very efficient production because the more focus they have on one task, the more efficient they become at this task which reduces the time and money involved in producing a good.
- Gains from trade: Two countries that both have comparative advantages on different products will benefits greatly if they continue in their specialized products and trade. For example country X produces fabric at a very cheap rate and country Y produces rice at a very cheap rate. It will cost country X a greater amount to start rice production than to just trade and get rice from country Y and vice versa. So both countries benefit from specializing and trading.
- Growth Opportunities: A country can gain access to the world market which allows them to grow bigger and in turn increase their efficiency.
- Consumer Satisfaction: Specialization means that cost of production is lower which makes the cost of goods relatively cheaper.
Answer:
Rory's behavior is unethical.
Explanation:
Ethical behavior is a moral conscience, attributed to good conduct and individual procedures, is to act with self-determination, self-control and orderly in any situation and fundamental at all times of life.
Rory's behavior does not match the concept of ethical behavior. Ethical behavior is related to actions that involve good conduct and individual control. Even if Rory returns the money from the cashier, she's taking money that is not hers without the permission of the real owner. Taking things that are not yours without permission is not good conduct and therefore is not ethical behavior.
The United States in Congress Assembled
Answer:
The life and enterprises of an entrepreneur are risky in the sense that many ventures fail, so he or she needs resources, labor, and capital to ensure that they don't fail.
Explanation:
Answer:
The United States gets 81% of its total energy from oil, coal, and natural gas, all of which are fossil fuels. We depend on those fuels to heat our homes, run our vehicles, power industry and manufacturing, and provide us with electricity.
