Answer:
A producer who has a <u>"comparative advantage"</u> experiences less cost when producing that good when compared with another producer.
Explanation:
When a producer is able to produce goods at a lower opportunity cost than the cost of other producers or partners of trade, than the term which is used in economics for this is comparative advantage. When you sell goods at lower cost than the others, it’s obvious that you will get stronger sale margins because everyone will buy your products.
Answer:
Positive
,
A positive cross elasticity of demand means that two goods are substitutes.
Explanation:
The cross elasticity of demand for substitute goods is always positive in light of the fact that the demand for one good upsurges when the price for the substitute good increases. For instance, if the price of coffee rises, the quantity demanded for tea (a substitute brew) increases as consumers switch to a more affordable yet substitutable alternative. This is mirrored in the cross elasticity of demand formula as well. Both the numerator (% change in the demand of tea) and denominator (the price of coffee) show positive escalations.
Answer:
red herring
Explanation:
Red herring is a noun that means: something, especially a sign / clue that is misleading / incorrect and that distracts from a really important / relevant issue. As can be seen in the example shown in the question above, where Ken, diverts from the subject and distracts Mike, so that Ken's morality is not the main topic of conversation.
The expression red herring, came about because, red herrings were old and fetid fish whose blood was used to distract the dogs from the actual location of the fish to other more distant locations. An alternative etymology points out that the meaning of this expression came from prisoners who escaped from the dogs in pursuit by throwing the spicy fish to lose them.
Answer:
Tractors are essential necessity of farming as they provide machine power for performing farm applications. In addition to routine landscape maintenance, lawn care, clearing bushes & spreading fertilizers the tractors are used to pull a variety of farm equipments for ploughing, planting, harvesting & cultivating crops.They also help in hauling materials & personal transportation.
Explanation:
Hope It Helps!!!
