Kemba's labor is called a resource as it is what his employer pays for.
For better understanding, we have to understand what resource is:
- Resource can simply be defined as anything that is used to answer or satisfies human needs and wants. it can be shown on a variety of levels, from worldwide to an individual household
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There are various types of resources available to man. they include; Natural Resources and human resources.
- Human Resources simply entails the use of the human population such as individuals, their abilities and skills. In business world, it is often known as Human Capital.
From the above, we can say that Kemba's labor is called a resource as it is what his employer pays for.
You can learn more about Resource from:
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In my opinion it’s B, as it is very important to stay safe in the country no matter what.
Yes, this makes Mexican workers more cost-effective than U.S. workers, keeping other things constant.
<u>Explanation:</u>
Minimum wage is the amount of money that an employee will get from his employer for working for an hour. This adds up to the total cost of the goods produced by the workers.
If the minimum wage of the workers in Mexico is less than the minimum wage received by the workers in the United States, it means that they are more cost effective and will lead to the production of the goods at a cheaper rate, keeping other things constant in the production process.
The answer is the appeal to popularity. Hope this helps.
The correct answer is B. Buying a good in one market and selling it in another for a profit.
Explanation:
The term "arbitrage" is used in the economy and similar contexts to describe the process in which a person, company or similar profits due to the differences in prices in different markets. This commonly implies an asset, product or service is bought in one market at a low price and then this is sold into a different market at a higher price which implies profit for the entity or individual that buys and sells the good. For example, a company or individual can buy a certain product in a foreign market where is cheaper due to the price of the foreign currency or changes in prices and then sell this at the local level. Therefore, arbitrage refers to buying a good in one market and selling it in another for a profit.
