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3 years ago

Describe about comparative cost and absolute advantages of international trade

Business

1 answer:

zzz [600]3 years ago

4 0

Answer:

Here's what I know.

Explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

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3 years ago

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3 years ago

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4 years ago

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Hope this helps!

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3 years ago

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following co

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Answer:

Percentage of completion method

2018 2019 2020

revenue(10mil*%complete) $3888890 $5258030 $853080

cost incurred -$2184000 - $3860000 -$4080000

Gross profit $1704890 $1398030 -$3226920

percent complete 2018 2019 2020

cost incurred/ estimated cost 38.3889% 91.4692% 100%

Revenues for 2019 = contract price * %complete - 2018 revenues

Revenues for 2020 = total contract price - revenues for 2018 and 2019

Explanation:

COMPLETE QUESTION BELOW

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)

2018 2019 2020

Cost incurred during the year $ 2,184,000 $ 3,860,000 $ 4,080,000

Estimated costs to complete as of year-end 5,616,000 4,220,000 0

2018 2019 2020

Revenue

Gross profit (loss)

UPDATE: Contract price is $10,000,000

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4 years ago

Describe about comparative cost and absolute advantages of international trade​

Describe about comparative cost and absolute advantages of international trade