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solong [7]
3 years ago
8

Suppose that the united states and canada each produce only two products, televisions and food. The united states can produce 10

0 televisions a day, 150 pounds of food a day, or any linear combination in between. (for example, it could choose 100 televisions and no food, 50 televisions and 75 pounds of food, or 150 pounds of food and no televisions.) canada can produce 300 televisions a day, 330 pounds of food a day, or any linear combination in between. Which of these trades could make both the united states and canada better off?
Business
1 answer:
Alex3 years ago
6 0

Answer: Trade between the two countries is beneficial when United States trade food to Canada and Canada would trade televisions to the United States.

Explanation: In international trade, each country will produce a good in which it has a comparative advantage (lower opportunity cost).

Opportunity cost of food is,

Unites states = \frac{100}{150} = 0.66

Canada = \frac{300}{330} = 0.90

Opportunity cost of television is,

Unites states = \frac{150}{100} = 1.5

Canada = \frac{330}{300} = 1.1

Since, opportunity cost of food is lower in the United states, United states will export food.

Opportunity cost of television is lower in Canada, Canada will export television to the United States.

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Andreas93 [3]

Answer:

1.  Private ownership of factors of production

2.  Freedom to engage in commercial activities

Explanation:

<u>1.  Private ownership of factors of production</u>

In the US, individuals and firms are allowed to own properties. A significant percentage of the factors of production are in the hands of the private sector. Firms and individual influences the production of goods and services because they allocate resources to meet market demand.

<u>2.  Freedom to engage in commercial activities</u>

Entrepreneurs have the freedom to choose the type of business they want to start. They can also select the location and the time they want to operate. There are no upper limits to firms that can participate in the market.  Consumers are free to choose their suppliers. The market presents a variety of goods and services to consumers to pick from.

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3 years ago
Suppose that while melissa was on the coast, she also spent two days sightseeing the national parks in the area. to do the sight
Virty [35]
Most of the times when a personnel is sent for an official business trip, transportation and lodging, and sometimes even meals are shouldered by the company. 

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8 0
3 years ago
Great Adventures obtains a $30,000 low-interest loan for the company from the city council, which has recently passed an initiat
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Answer:

The journal entry at the time when great adventures obtains the $30,000 loan is:

Account Title                       Debit            Credit

Cash                                     30,000

Notes Payable                                          30,000

The interest accrued at the end of each month would be:

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7 0
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7 0
3 years ago
Trapp Company reported net income of $110,000 for 2019 and paid dividends of $60,000 on November 1, 2019. Grape Company owns 15%
MArishka [77]

Answer:

$9,000

Explanation:

Given that,

Trapp Company reported,

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Using a fair-value method,

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