Answer:
The correct answer is option D.
Explanation:
Competitive advantage refers to the situation when a firm can provide better value to their customers or provide the same product at a lower cost. In other words, the company is able to outperform its competitors.
Economies of scale can arise because of several factors such as
- Economies of scale
- Geographical location
- Internal systems
Competitive advantage gives a firm the ability to produce more efficiently than its rival and thus the firm has greater profit than its rival.
It is called "cost efficiency" to the way in which a company, through specific commercial organization actions, manages to reduce the costs necessary to obtain a certain profit.
Thus, they seek to minimize the costs and operational losses of the company, with the aim of maximizing profits.
In this way, 3 ways in which an airline could increase its cost efficiency are:
- fly to places with high demand, reducing presence in not so popular destinations.
- reduce the time on the ground for each plane, so that it generates money almost constantly.
- perform optimal maintenance on each plane, to avoid breakages.
Learn more about efficiency in brainly.com/question/6672666
Answer:
Retained earnings balance =$54,700
Explanation:
Retained earnings is the proportion of profit made by a company which is not distributed as dividend but rather re-couped to be re-invested. A payment of dividend would reduce the balance of retained earnings while further profit retained increases it.
The balance of retained earnings at the end = opening balance + profit retained for the year - dividend paid for the year
= 33,400 + 36,500 - 15,200 = $54,700
Retained earnings balance =$54,700
The limits of the terms of trade are determined by the comparative cost conditions in each country before trade:
Less commerce occurs as a result of partial specialization and rising costs than when costs are constant. The cost advantage one country has over another serves as the foundation for commerce. This explains why some countries make things that they also import since they are able to do so for less money than their trading partners.
What is comparative cost ?
Comparative costs refers to comparing, using a comparative costs approach, the costs of signing into a privatized contract to the expenses of the state maintaining to provide the services that are the subject of the contract.
Therefore,
Less commerce occurs as a result of partial specialization and rising costs than when costs are constant. The cost advantage one country has over another serves as the foundation for commerce. This explains why some countries make things that they also import since they are able to do so for less money than their trading partners.
To learn more about comparative cost from the given link:
brainly.com/question/8141905
Answer:
(D) medium of exchange
Explanation:
According to my research on economics, I can say that based on the information provided within the question mollusk shells would play the economic role of being a medium of exchange within a financial system. This is basically a term defined as a widely accepted token which can be exchanged for goods and services.
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