Answer:
Ricardo’s Theory of Comparative Advantage
Explanation:
Comparative advantage is the term used to define the ability of an individual, firm or country to produce a particular good or service at a lower opportunity cost than that if it’s competitors or trade partners. Opportunity cost is the benefit lost from the second best alternative.
When a country can produce a product more efficiently (i.e maximum output using minimum resources) than that of its trade partners, it is known as that it has absolute advantage in that product. India tends to have absolute advantage in both business processes outsourcing as well as producing agricultural commodities as it is mentioned that it can produce both of these more efficiently than the United States.
However, although it has absolute advantage in both, it is still less efficient in producing agricultural commodities when compared to business process outsourcing. In other words, if it attempts to produce agricultural commodities in-house, the benefit lost from the second best alternative: business process outsourcing is high. The opportunity cost is higher when it produces agricultural commodities than it is when it does business process outsourcing. Hence, due to the law of comparative advantage, it chooses to specialize in business process outsourcing and imports agricultural commodities.
Answer: b.the principles of management are much the same at large and small firms.
Explanation:
Quinn will find that Management Principles do not discriminate against different sizes of firms and that the principles that work in one size can work across ALL sizes.
She will find that the same Principles that helped her in her big NGO will help her JUST AS WELL in this small but pioneering business.
Answer:
Explanation:
The adjusting entries are shown below:
1. Prepaid insurance expense A/c Dr $280
To Prepaid insurance A/c $280
(Being prepaid insurance is adjusted)
2. Supplies expense A/c Dr $3,005 ($3,970 - $965)
To Supplies A/c $3,005
(Being supplies adjusted)
3. Depreciation Expense A/c Dr $190
To Accumulated depreciation $190
(Being depreciation expense is adjusted)
4. Unearned service revenue A/c Dr $4,680 ($11,700 × 2 ÷ 5)
To service revenue $4,680
(Being unearned service is adjusted)
Answer:
Why or why not? Yes, organizing is still a very important managerial function because work is separated, assembled, and coordinated with the help of organizing. Therefore allowing employees to work anywhere, anytime. Also, people still need to plan what to do at what time so as to ensure time maximation.
Credits to : assignmentexpert
Explanation:
Answer:
On the 50th day, the purchase cost will be equal to the lease cost
Explanation:
Given that:
- Daily operating costs of $500
- Purchasing cost for the item: $10,000
- Lease amount: $700
Let x is the number of days the purchase cost be the same as the lease cost. As we now that:
The total cost should be equal to the total lease received
<=> 10,000 + 500x = 700x
<=> 200x = 10000
<=> x = 50
Hence, on the 50th day, the purchase cost will be equal to the lease cost
