<span>The Indians were in a precarious position</span>
Answer:
The employees in Mexico can either produce 2 cars or 50 bushels of wheat.
This means that the opportunity cost of producing 50 bushels of wheat is 2 cars.
For 1 bushel of wheat therefore;
= 2/50
= 0.04 cars
Opportunity cost of producing a car in Mexico will be;
= 50/2
= 25 bushels of wheat.
The opportunity cost of producing a car in Mexico is 25 bushels of wheat, and the opportunity cost of producing a bushel of wheat in Mexico is 0.04 cars.
Answer: At Mark’s Furniture, all the carpenters are in one group, and all the upholsterers are in another.
Explanation:
Functional structures refer to the grouping of company departments based on what the labor involved do for the company i.e. their functional expertise.
Mark's company is therefore using a functional structure because it groups its workforce by their functional expertise with carpenters in one group and upholsters in another.
Most companies follow this strategy which is why companies have departments such as accounting, human resources, marketing and production.
Answer:
b) natural resources
Explanation:
Natural resources refer to valuable materials found beneath, above, and on the earth's surface. They are naturally occurring, meaning no human effort is required in producing them. Natural resources make a good source of wealth. Examples of natural resources are land, mineral, oils and gas, forests, water, sunlight, wind, and many others.
Anyone with access to natural resources can invest to make them marketable products. Extraction of oil and refining is an example of investing in natural resources. Processing of trees to wood, use of solar to generate power are other examples.
