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liberstina [14]
3 years ago
5

It takes Suzi 6 hours to sew a shirt and 4 hours to bake a cake. Anna can sew a shirt in 3 hours and bake a cake in 1 hour. If A

nna and Suzi decide to specialize and trade, who should make shirts?
Business
1 answer:
Darina [25.2K]3 years ago
8 0

Answer:

Suzi

Explanation:

Comparative advantage is the relative edge that a person has over another in the production of a product. They use less resources to produce the product than others.

When two parties corporate in production the good to produce can be shared base on who has comparative advantage or the person that loses less in a production process.

In the give instance

Suzi can produce a shirt in 6 hours while Anna produces it in 3 hours. Anna is twice as fast as Suzi.

Suzi can bake a cake in 4 hours while Anna can do so in 1 hour. So Anna is 4 times faster than Suzi in baking cakes.

It will be best for Suzi to make shirts since she is only twice as slow as Anna.

Anna will be better off baking cakes as she is four times as fast here.

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Consider the following scenarios:
Oliga [24]
Scenario 2 would be correct
7 0
3 years ago
Colby runs a start-up that sells seasonal holiday packages. He leads a team of 10 people. Every time his customers are happy wit
Westkost [7]

Answer:

bureaucratic control

Explanation:

Bureaucratic control is a management style that tries to control the behavior and performance of the employees through reward or price mechanisms.

In order to achieve its purpose, bureaucratic style managers use a system of standardized rules, processes and verification procedures.

3 0
3 years ago
What is the basic purpose of the consumer price index (CPI)? A. to track monthly changes in prices paid by urban consumers B. to
Elina [12.6K]

Answer:

A). to track monthly changes in prices paid by urban consumers.

Explanation:

CPI(Consumer Price Index) is characterized as 'a statistical estimate of the price level of goods and services bought by consumers for consumption purposes by the households.' It primarily aims to estimate the change or swap in the prices of the weighted average price of the common basket(consumption goods, as well as, services that the consumers pay for). It is calculated using the formula;

CPI_{t}  = \frac{C_{t} }{C_{0} } * 100

where,

CPI_{t} = current Consumer Price Index

C_{t} = Current price basket

C_{0} = Cost of price basket in the base year

It assists in deducing whether the average prices have received a fall or rise and determines inflation or deflation. Thus, <u>option A</u> is the correct answer.

6 0
3 years ago
Benefits of delocalisation of firms​
inna [77]

Answer

It encourages the establishment of support business enterprises

Explanation:

This promotes national attachment and solidarity; and furthermore diminishes provincial urban relocation. Market for crude materials: localization makes showcase for privately delivered crude materials in this way making work and winning makers pay.  

When numerous organizations are situated in one locale, foundations, for example, banks, insurance agencies, and merchants are probably going to set up organizations in the region to offer administrations required  

Production of a pool of work: When ventures are moved in one zone, individuals will, in general, relocate to that district looking for business along these lines empowering the making of a pool of work power.

6 0
3 years ago
Oriole Company was formed on December 1, 2019. The following information is available from Oriole's inventory record for Product
Leokris [45]

Answer:

FIFO Ending Inventory $ 64900

Explanation:

Oriole Company

Date                         Particulars        Units       Unit Cost       Total Cost

January 1, (beginning inventory)    2,000              $15         30,000

January 5,            Purchases:         2,500              $17          42500

January 25,          Purchases:         2,200               $18         39600

February 16,        Purchases:           1,100                 $19        20900

<u>March 15,               Purchases:         2,200              $20        44000</u>

<u>Total                                                10,000                            $ 177000  </u>

A physical inventory on March 31, 2020, shows 3,300 units on hand.

FIFO means first in first out. It is a method of calculating inventory items. In it the first items purchased are sold out first. Following this rulethe ending inventory FIFO can be calculated by moving backwards from March 15 purchases as follows.

FIFO Ending Inventory $ 64900

March 15 Purchases  2,200 units at $20=$ 44000

February 16,Purchases units 1,100 at $19 =$20900

6 0
3 years ago
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