Answer: it can produce that good using fewer resources than its trading partner
Explanation:
A country has an absolute advantage in the production of a good when such country can produce the good using fewer resources than another country.
Absolute advantage can be due to the natural endowment of a country. For example, let's say Japan uses 2 hours in producing a good while Brazil uses 5 hours in producing such good. Then, it can be deduced that Japan has an absolute advantage over Brazil.
Answer:
Dr Raw materials $93,000
Cr Accounts payable $93,000
Explanation:
Based on the information given we were told that during the month, the corporation had to purchased an additional raw materials of the amount of $93,000 which means that the journal entry to record the purchase of raw materials would include a:
Dr Raw materials $93,000
Cr Accounts payable $93,000
(To record purchase of raw materials)
The main impact that the 5 Total Quality Management have on Woolworths is that it helps quality assurance for customers.
<h3>What is the
Total Quality Management?</h3>
This is a management system that is assert that all staff must be committed to maintaining high standards of work in every aspect of a company's operations.
The five concept of Total Quality Management includes:
- Produce quality work the first time
- Focus on the customer
- Have a strategic approach to improvement
- Improve continuously
- Encourage mutual respect and teamwork.
Read more about Total Quality Management
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Answer:
C. Spreading risk by investing your money in a variety of funds and investment options.
Explanation:
To “diversify” a portfolio is to invest in a variety of assets as opposed to focusing on one type of asset. To diversify is to invest in different classes of assets to minimize the risks associated with investing.
Diversification minimizes risk by spreading it in the different classes of assets. Should returns from one class of assets be unfavorable, the losses incurred will be neutralized by positive returns from the other assets.
