1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
slavikrds [6]
3 years ago
15

While different natural resources and the theory of comparative advantage can explain many trade patterns, they cannot explain a

ll types of trade that economists observe.
Consider each scenario in the following table and determine which theory best explains the trade pattern described.

Scenario

Dynamic Comparative Advantage

Product Life Cycle Theory

Intra-Industry Specialization

Ice wine is a special spirit that can only be made during a few months in the winter. The nations of Fruzenton and Grappovia are in different hemispheres, and each produces ice wine. During each nation’s winter, its ice wine industry produces enough to meet domestic demand and export to the other country. The ice wine exchanged between the two nations is nearly identical.
For many years, the nation of Stilettopia’s high-heel shoe producers have struggled in the international market because strict labor laws have made it hard to get productivity out of Stilettopians. In an effort to stimulate its industry, legislators in Stilettopia approve a bill that reduces the minimum wage and extends the number of hours shoe laborers can work in a day. Once the new policies take effect, Stilettopian high-heel shoe makers have lower costs than international competition and are able to reduce prices to the point that there is demand to export their shoes.
Since the turn of the century, nearly all X-ray machines purchased by hospitals have been made in Alloway. However, engineers in Osteoville recently designed an X-Ray machine that produces much more accurate results, leading to fewer malpractice cases and more reliable diagnoses. These new X-ray machines quickly become the industry standard. As a result of this, the production of X-ray machines is thriving in Osteoville, while firms in Alloway lose market share and begin trying to develop a new source of advantage.
Business
1 answer:
kakasveta [241]3 years ago
7 0

Answer:

Intra-Industry Specialization

Dynamic Comparative Advantage

Product Life Cycle Theory

Explanation:

Ice wine is a special spirit that can only be made during a few months in the winter. The nations of Fruzenton and Grappovia are in different hemispheres, and each produces ice wine. During each nation’s winter, its ice wine industry produces enough to meet domestic demand and export to the other country. The ice wine exchanged between the two nations is nearly identical.  Intra-Industry Specialization

For many years, the nation of Stilettopia’s high-heel shoe producers have struggled in the international market because strict labor laws have made it hard to get productivity out of Stilettopians. In an effort to stimulate its industry, legislators in Stilettopia approve a bill that reduces the minimum wage and extends the number of hours shoe laborers can work in a day. Once the new policies take effect, Stilettopian high-heel shoe makers have lower costs than international competition and are able to reduce prices to the point that there is demand to export their shoes.  Dynamic Comparative Advantage

Since the turn of the century, nearly all X-ray machines purchased by hospitals have been made in Alloway. However, engineers in Osteoville recently designed an X-Ray machine that produces much more accurate results, leading to fewer malpractice cases and more reliable diagnoses. These new X-ray machines quickly become the industry standard. As a result of this, the production of X-ray machines is thriving in Osteoville, while firms in Alloway lose market share and begin trying to develop a new source of advantage Product Life Cycle Theory

You might be interested in
If the month-end bank statement shows a balance of $36,000, outstanding checks are $10,000, a deposit of $4,000 was in transit a
Misha Larkins [42]

Answer:

c) $30,600

Explanation:

Bank statement balance = $36,000

Outstanding checks = ($10,000)

Deposit in transit as at month end = $4,000

Erroneous check charged = $600

Correct balance in the bank account = $36,000 - $10,000 + $4,000 + $600

                                                             = $30,600

The right option is c) $30,600

3 0
3 years ago
Trends established by your competition can provide you with an advantage <br> A. True<br> B. False
Alexus [3.1K]

False, cuz cuz cuz cuz cuz


6 0
3 years ago
Read 2 more answers
Tobit Financing offers short-term financing plans to other companies. It buys the accounts of other companies at a discount and
NARA [144]

Answer:

C) Factoring

Explanation:

In factoring, the Companies shall sell the accounts receivables to Tobit Financing at a discounted rate when they are apprehensive about receiving the same from their debtors in time. Once received by Tobit Financing, it shall recover the dues from those accounts at the full rate. The difference shall be the earning of Tobit Financing. This may also be true when such Companies are in urgent need of cash and this option seems to be the most viable.

3 0
3 years ago
A company has designed a new product and tested the prototype. What is the
Valentin [98]
I think it’s A because they have to put it under testing
5 0
3 years ago
Read 2 more answers
You are a member of a project team revising your company’s ethics policy. The team has representatives from four divisions: Soft
Veseljchak [2.6K]

Answer: ) She wants to present a new draft for a new policy.

Explanation:

The options to the question are:

A) She wants to present a new draft of the ethics policy.

B) The other members of the team are ineffective.

C) She is concerned that her work isn’t being valued.

The most important message that my colleague is trying to deliver is that she wants to present a new draft for a new policy.

This can be seen from the passage where she suggested that the team should review a new draft of the ethics policy. She further highlighted the reason for that and she said she believes the policy will have positive effects on the team and on the organization as a whole.

4 0
2 years ago
Other questions:
  • _______ refers to how you articulate or form your words. A. Inflection B. Modulation C. Pitch D. Enunciation
    11·1 answer
  • Herbert spencer believed that societies evolve from lower to higher forms because as generations pass, the most capable and inte
    13·2 answers
  • ​Connecticut, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the compar
    5·1 answer
  • On January 1, 2018, Bonita Industries had 110000 shares of its $5 par value common stock outstanding. On June 1, the corporation
    12·1 answer
  • Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its plan
    10·1 answer
  • Risk vs reward sim
    13·1 answer
  • Think about a country where most economic production results in air pollution that creates lots of smog. What would be the trade
    9·1 answer
  • What is one benefit of continuing your education after high school?
    10·1 answer
  • A pharmacy has monthly sales of $278,000, inventory purchases of $186,000, salaries and wages of $49,000, utilities of $2,000, i
    13·1 answer
  • Knowledge Check 01
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!