In the given situation, the systems property illustrated is called equifinality. The case says that there three people were fired at ABC Corporation. Eugene was fired because he was incompetent. Rita was fired because she was unethical. Kayla was fired because of economic conditions. Equifinality in business implies that firms may establish similar competitive advantages based on substantially different competencies. The concept is that there are many paths to the same end. The idea states that there are multiple ways to reach a final goal. In open systems, equifinality states that in open systems a given end state can be reached by many potential means.
Answer:
I expect the answer in the following form
Explanation:
Irish lions play with Japan to get better and learn new things
Answer:
By comparing the opportunity cost of producing wine in the two countries, you can tell that SPAIN has a comparative advantage in the production of wine and DENMARK has a comparative advantage in the production of rye.
Suppose that Spain and Denmark consider trading wine and rye with each other. Spain can gain from specialization and trade as long as it receives more than 4 bushels of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than 1/10 of wine for each bushel of rye it exports to Spain.
Based on your answer to the last question, which of the following terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade? Check all that apply.
- b. 8 bushels of rye per bottle of wine
- c. 9 bushels of rye per bottle of wine
Explanation:
Spain
wine = 4 bushels of rye
bushels of rye = 1/4 wine
Denmark
wine = 10 bushels of rye
bushels of rye = 1/10 wine