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Igoryamba
3 years ago
6

Given Ted can wax 4 cars per day or wash 2 cars per day and Tom can wax 3 cars per day or wash 1 car per day. What is each man’s

opportunity cost of waxing a car? Who has an absolute advantage of waxing cars? Who has a comparative advantage of waxing cars?

Business
1 answer:
victus00 [196]3 years ago
8 0

Answer:

OPPORTUNITY cost of Ted=2/4=0.5 car wash

OPPORTUNITY cost of Tom=1/3=0.33 car wash.

OPPORTUNITY cost is amount of other good given to produce more of one good.

Ted has absolute advantage.

Tom has comparative advantage.

Explanation:

See attached picture.

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Suppose a merchant in a moneyless economy trade has goods for large amount of purple fabric. He intended to use the fabric to tr
spayn [35]

Answer:

Preservation of value.

Explanation:

Money is a medium of exchange that is generally acceptable for transactional purposes.

As seen in the scenario , money may not necessarily be cash as some other items can be used as a medium of exchange in a trade by barter agreement so far the items has the features of money and acceptable.

However , one thing that could be pointed out in the transaction in the scenario is a loss of value of the purple fabrics before the transaction could take place as a result of sudden arrival of a trade ship that caused a surplus in the fabrics , and at the end , it could not achieve as much as was expected.

Therefore the need for the preservation of value of money is necessary and needed

4 0
3 years ago
Read 2 more answers
In three to four sentences, explain how an increase in government spending can increase the national debt.
IgorLugansk [536]
If the government spends more money, but doesn't increase taxes, they have to borrow money from other countries in order to spend it. If we borrow money from other countries, then our country owes their country. When we owe something, that is called debt.
4 0
3 years ago
Read 2 more answers
Big Sky Sports sells hunting and fishing equipment and provides guided hunting and fishing trips. Big Sky Sports is owned and op
stiv31 [10]

Answer:

(a)

1. Kalispell State Bank

2. Glacier Boutique

3. Big Sky Sports

4. Kalispell State Bank

5. Big Sky Sports

6. Big Sky Sports

7. None of the above

8. Glacier Boutique

9. None of the above

10. Big Sky Sports

(b) Business transactions refers to the transactions that are related to only business, such as purchase of land, machinery, goods for business purposes. Any type of personal transaction is not included in business transaction.

6 0
3 years ago
As part of his 401(k) retirement plan at work, Ken Lowery invests 6.0 percent of his salary each month in the Capital Investment
Gnesinka [82]

Answer:

The amount of the fee is $1689.60

Explanation:

The computation of the amount of the fee is shown below:

= Dollar value × fund charges a 12b-1 fee

= $211,200 × 0.8%

= $211,200 × 0.008

= $1689.60

Since the question has asked the fee amount so we consider the fee charges percentage, not the capital investment Lifecycle fund. Thus, we ignore the Capital Investments Lifecycle Fund as it is not relevant.

Hence, the amount of the fee is $1689.60

8 0
3 years ago
What is the term that defines how recently a customer purchased items?
KatRina [158]
The answer is recency. This part of the RFM model. It is a marketing investigation tool used to classify a firm's best customers by calculating definite factors.

The RFM model is founded on three quantitative factors which are:

Recency - How recently a customer has made an acquisition or purchase of productFrequency – How frequent or often a customer makes a purchaseMonetary Value - How much cash a customer spends on purchases

RFM analysis often sustains the marketing saying that "80% of business comes from 20% of the customers."
6 0
3 years ago
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