Jethro has an absolute advantage in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddling a canoe, setting up tents, making a meal, and washing up.
Absolute advantage refers to an individual's capacity to efficiently carry out a task when compared to other individuals or groups.
- In economics, this broadly refers to the ability and capacity to produce and conduct an economic good or a particular service in a more efficient manner than the competitors.
- In this case Jethro has an absolute advantage in all aspects of camping.
- Within the constraints of the economic activity, production is more efficient and higher.
- Fewer resources are required to produce a particular commodity and/or service that needs higher resources for the competitors.
- With fewer inputs, the outputs stand maximized in the context of absolute advantage.
Therefore, Jethro has an absolute advantage in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddling a canoe, setting up tents, making a meal, and washing up.
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Answer:
C
Explanation:
<em>A breach of contract occurs when one of the parties to a contract decides not to honor all or some of the terms spelled out in the contract. In other words, a breach of contract occurs when actionable terms in the contract are neglected by one of the parties to the contract.</em>
The actionable term in the contract signed by both Diary Farm and EZ Serve Ice Cream Company is for Diary Farm to supply milk to EZ Serve Ice Cream Company. <u>Hence, not supplying milk as agreed represents a breach of the contract, all other things being equal.</u>
Correct option: C
Answer:
no capital gain or loss
Explanation:
A customer buys $10,000 of 30 year corporate bonds with 10 years left to maturity at 92. The customer elects not to accrete the discount annually. At maturity, the customer will have no capital gain or loss.
Answer:
Letter C is correct. <u>Behavioral.</u>
Explanation:
Attitudes in a workplace correspond to the way an individual will react to a particular situation. It may occur with other people's evaluation, problems and events, and may have a positive or negative character.
The behavioral component exemplified in the above question, is characterized as the intentions of an individual, are the tendencies of how an individual will behave towards an object in the short and long term.
Answer:
(a) Real Interest Rate = -1 %
(b) Real Interest Rate = -2.4 %
Explanation:
Real Interest Rate = (1+ Nominal Interest rate)/(1+Inflation Rate) -1
(a)Real Interest Rate = (1+0.01)/(1+0.02)-1
= -1 %
(b) Real Interest Rate = (1+0.005)/(1+0.03) -1
= -2.4 %
Real Interest Rate is an interest rate that has been adjusted to remove the effects of inflation to reflect the real cost of funds to the borrower and the real yield to the lender or to an investor.
