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3 years ago

What is comparative advantage? How does it relate to productivity?

Business

1 answer:

Amanda [17]3 years ago

5 0

Answer:

Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. The theory of comparative advantage introduces opportunity cost as a factor for analysis in choosing between different options for production.

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What effect would a bumper crop most likely have on the price of that crop??

Lunna [17]

This will most likely drive down the price of that crop. Price is a function of demand and supply, if a bumper crop leads to much more supply with little change on the demand side, the price of the supply will have to reduce for the market to clear.

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4 years ago

Suppose Ms. Smith sells her 2018 Honda Fit next year. The original cost of the vehicle was $10,000. During the time she has owne

Sonja [21]

Answer:

C. An ordinary gain of $2,000

Explanation:

Let's begin by listing out the given parameters:

Original Cost (C) = $10,000, Depreciation (D) = $3,000,

Sale Price (S) = $9,000

Worth of Vehicle (W) = Original Cost - Depreciation

W = C - D = $ (10,000 - 3,000)

W = $7,000

Net Worth (N) = Sale Price - Worth of Vehicle

N = S - W = $ (9,000 - 7,000)

N = $2,000

Hence, Ms Smith made an ordinary profit of $2,000

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3 years ago

Megan is a graduate student pursuing a course in business. Presented with the case of a company's unethical behavior, Megan wond

liberstina [14]

Answer:

B) should ask the CEO to step down because it has a greater obligation toward society.

Explanation:

The concept of value creation in a business is more than simply increasing profits, it is about creating value for the company's customers and society as a whole. This concept is best illustrated by engaging in practices that reduce pollution or other business decisions like not buying from foreign vendors that employ forced child labor. Sometimes certain business practices are so evil that they are outlawed, e.g. buying conflict or blood diamonds, but Belgian diamond markets are still full of them. The final decision is ours, and as customers we have the power to decide which companies we support.

3 0

4 years ago

Which of the following best addresses the economic question For whom to produce?

fredd [130]

Yea, I agree, I think the answer is A.

4 0

3 years ago

Which statement is TRUE about insurance coverage on customer brokerage accounts maintained at banks registered solely as municip

Norma-Jean [14]

Answer: D. No insurance protection is offered on customer municipal accounts maintained at bank broker-dealers

Explanation:

Broker-Dealer are required to register their customers for insurance under the Securities Investor Protection Corporation (SIPC).

Broker-Dealers who however handle only tax-exempt securities such as municipal bonds are not required to be registered under the SIPC.

As this bank handles only municipal securities, they is not required to be registered under the SIPC which means that no insurance protection is offered on customer municipal accounts maintained by them.

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4 years ago