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
Sloan [31]
2 years ago
14

There are several economic explanations for why trade is so commonplace. Match each of the examples listed below with the econom

ic concept that best explains the behavior or observation.
A. Swiss watch manufacturers producing high quality time pieces.
B. U.S. auto makers offering a great variety of makes and models of cars.
C. The ability of developing nations to export textiles to wealthier countries.
D. Doctors becoming experts in one type of medicine rather than becoming proficient in many areas.
E. Your economics professor paying a gardener to do work that he/she could do on their own.
1. Comparative Advantage
2. Specialization or Economies of Scale
Business
1 answer:
levacccp [35]2 years ago
5 0

Answer:

Explanation:

A. Swiss watch manufacturers producing high quality time pieces.

1. Comparative Advantage

B. U.S. auto makers offering a great variety of makes and models of cars.

2. Specialization or Economies of Scale

C. The ability of developing nations to export textiles to wealthier countries.

US auto makers manufacture on large scale so they have economies of scale . Moreover they are technically superior because of specialisation .  

1. Comparative Advantage

wealthier nation too can export textile but that will be costlier so developing nation has comparative advantage of cheap labour.

D. Doctors becoming experts in one type of medicine rather than becoming proficient in many areas.

2. Specialization or Economies of Scale

E. Your economics professor paying a gardener to do work that he/she could do on their own.

1. Comparative Advantage

Professor can earn more by using his time as a professor so he has comparative advantage .

You might be interested in
Calculation of Cost of Goods Sold: Periodic Inventory System with Sales Returns and Allowances
andrey2020 [161]

Answer:

 73,450  COGS

Explanation:

From the beginning inventory we add up purchase and freight cost and subtract the return made to the suplier and discount and allowance granted.

This will be the total cost available for sale.

Then we subtract the ending inventory to get the COGS

  27,000 beginning inventory

+ 78,000 purchases

+      350 freight-in

-   3,900 return and allowance

<u>-   6,000 </u>discount  

 95,450   good available for sale

<u>- 22,000 </u>ending inventory

 73,450  COGS

The sales return impact the sales revenue not the COGS

7 0
3 years ago
If decision making is pushed down to lower level employees, and these employees feel empowered to make decisions on their own, a
IRISSAK [1]
If the decision making forced to minor level employees, and these employees feel legitimized to make decisions on their own, an organization has a decentralized structure. Decentralized is a type of organizational structure in which regularly application and decision-making.
6 0
3 years ago
Which of the following is not an example of IFRS simplified for SMEs?
Ludmilka [50]

Answer:

b. all development cost are expensed as incurred

6 0
3 years ago
When the price of chocolate chip cookies increased to $3 per package, Samantha began to buy oatmeal cookies instead. This situat
xenn [34]

Answer:

substitution effect The supply curve slopes upward because at a higher price, producers have an incentive to produce more.

Explanation: Google

7 0
3 years ago
Read 2 more answers
Profit maximization occurs when:
lianna [129]

Answer:

The correct answer is option B.

Explanation:

Profit maximization refers to the situation when a firm is able to maximize the total profit that it could earn through the production of goods and services.  

The total profit is maximized when the marginal profit is zero or when the marginal revenue is equal to marginal cost. The marginal profit is the difference between marginal revenue and marginal cost.  

If the marginal revenue is greater than the marginal cost the firm should increase production till both are equal.  

In case, marginal revenue is less than the marginal cost the firm should stop producing more and reduce production till both are equal.

3 0
3 years ago
Other questions:
  • Brief Exercise 4-08 In 2020, Kingbird Corporation reported net income of $1,171,600. It declared and paid preferred stock divide
    13·1 answer
  • Production activities are done as needed in order to satisfy a specific demand.
    12·1 answer
  • Eagle Company reported Salaries and Wages Payable of $1,500 at the beginning of the year and $5,000 at the end of the year. The
    11·1 answer
  • How to calculate gross margin Description AmountNumber of units sold 800 unitsSelling price per unit $500 per unitCost of goods
    6·1 answer
  • Suppose that the price of a bottle of soda is $1 each. Larry is willingto pay $2 for the first bottle, Alan is willing to pay $1
    11·1 answer
  • Maria is going to rent a truck for one day. There are two companies she can choose from, and they have the following prices. Com
    11·1 answer
  • Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all c
    15·1 answer
  • Once Domino's decided to offer salads, it partnered with "Ready pac foods" to offer each Domino’s Pizza location prepackaged sal
    15·1 answer
  • The 20/60/20 rule states that the total percent of employees who might be influenced to commit a fraudulent act is:__________
    6·1 answer
  • 3.Part 2 Management agency agreement – complete and submit for marking Maria’s agreement only.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!