<span>When you make this decision, you are primarily using your critical thinking. You are using information you were given in the past and applying it to future events.</span>
Answer: GNP; GDP
Explanation:
<em>The value of what a Canadian-owned Tim Hortons produces in South Korea is included in the Canadian </em><em><u>GNP </u></em><em>and the South Korean </em><em><u>GDP</u></em><em>. </em>
Gross National Product refers to the total amount of domestic production and foreign production that can be attributed to the residents of a nation.
This means that GNP includes the GDP and income earned by residents of the country in other countries but less the income earned by foreigners in the country. For Canada therefore, the value of goods produced by the Canadian company in South Korea will be added to the GNP.
Gross Domestic Product (GDP) on the other hand is simply the total final value of goods and services produced in a country regardless of if it was foreigners or residents doing the production. The value of what a Canadian-owned Tim Hortons produces in South Korea is therefore included in South Korea's GDP.
Answer: A. Price C Quality
Explanation:
The price of available stock for purchase is of paramount importance to the buying company. The price determines the level of profitability and which in essence determines continuity in business.
Qualities of raw material input will equally determines the quality of the output and this affects the firm reputation.
The management style of the supplier and his payment terms can be influenced by the buying company through it's purchasing power, so they are not of much piority compared to price and quality.
Answer:
economies of scale
Explanation:
Economies of scale are the result of increasing returns to scale, this means that the higher the output, the lower the production costs per unit. This means that large producers will have an advantage over smaller producers which will eventually allow them to make more profits and sell at lower prices. After a while, only large producers that are able to manufacture goods at a low price will exist, e.g. car manufacturers.
Answer: For the real business cycle, technical fluctuation that triggers changes in outputs and employment, while for the Keynesian, income and output depend largely on the volume of employment.
Explanation:
The real business cycle theory assumes that when the market undergoes variation in it's ability to turn inputs into product, there is a technical fluctuation that triggers changes in outputs and employment
While the Keynesian, it's sees business cycles as periodic fluctuations of employment, income and their output. This income and output depend largely on the volume of employment.
