Answer:
Countries that engage in trade will tend to specialize in the production of goods and services in which they have <u>COMPARATIVE</u> and will <u>EXPORTS</u> these goods and services.
Explanation:
Countries will trade the goods in which they have a comparative advantage in their production, that means that the opportunity cost of producing them is lower compared to other countries. Gains resulting from trade are not based on absolute advantages since resources are limited for everyone, so a country must produce and export the goods at which their opportunity cost is the lowest.
<span>895 * 0.75 * 1.08 = 724.95$
800 - 724.95 =
75.05$</span>
Answer:
3) Social classes show distinct product preferences in areas such as clothing.
Explanation:
Individuals that belong to the same social class exhibit similar buying patterns, which are different than those exhibited by people belonging to other social classes.
Social class is defined by an individual's economic status and his/her social hierarchy which is based on social esteem, prestige and success. The main factor in determining the social class of an individual is wealth, but not all the people that possess a similar amount of wealth belong to the same social class.
American society is generally divided into 5 social classes: upper, upper-middle, middle, working and lower. Generally the people belonging to the upper social class possess large inherited wealth (old money), while new rich people belong to the upper-middle class even though they might have even more money.
Answer:
private universities can cost three times as much to attend as public universities.
Explanation:
Private universities are more expensive to attend compared to public universities. As per the graph, the public university is cost 7,000 while private university costs 23,000 to attend. It is then correct to say that private universities cost more than three times as public universities ( 23,000/7,000= 3.29).
Community college costs 9000, while technical schools cost 4000; the cost is not five times more.
Technical schools 4,000 and community colleges are 9000; the costs are only two and a half more.
