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navik [9.2K]
3 years ago
11

In​ today's global​ environment, everything and everyone are digitally connected to everything and everyone else. the term used

to describe this is​ __________.
Social Studies
1 answer:
Leya [2.2K]3 years ago
7 0
<span>In​ today's global​ environment, everything and everyone are digitally connected to everything and everyone else. The term used to describe this is​ internet of everything (IoE). Internet of everything describes that every object and every person has an IP address and are connected with each other through the global Internet. Digital information are shared. </span>
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Emily owns an ice cream parlor. In an hour she can produce 40 milkshakes or 40 ice cream sundaes. Ben also owns an ice cream par
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Answer:

Emily's opportunity cost of producing 1 milkshake is 1 ice cream sundae.

Ben's opportunity cost of producing 1 milkshake is​ 0.5 ice cream sundae.

Explanation:

Both Emily and Ben own an ice cream parlor.

In an hour Emily can produce 40 milkshakes or 40 ice cream sundaes.

Emily's opportunity cost of producing a milkshake is

= \frac{What\ is\ sacrificed}{What\ is\ gained}

= \frac{40}{40}

= 1 ice cream sundae

In an hour Ben can produce 20 milkshakes or 10 ice cream sundaes.

Ben's opportunity cost of producing a milkshake is

= \frac{What\ is\ sacrificed}{What\ is\ gained}

= \frac{20}{10}

= 0.5 ice cream sundae

We see that Ben has a lower opportunity cost of producing milkshake, so we can say that he has a comparative advantage in producing milkshake.

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