To make the loan look more attractive and competitive now
Answer:
it can still gain from international trade in that commodity, by getting it at a lower opportunity cost than if it produced it domestically.
Explanation:
A country has comparative disadvantage in production if it produces at a higher opportunity cost when compared to other countries.
The country with a comparative disadvantage can gain from trade by trading the good with a country that has comparative advantage in the production of that good. i.e. the country produces at a lower opportunity cost
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country B has a comparative disadvantage in the production of beans and country A has a comparative disadvantage in the production of rice
Country B should buy beans from A and A should buy rice from B
To determine whether accounts payable are complete, an auditor performs a test to verify that all merchandise received is recorded. The population of documents for this test consists of all receiving reports.
<h3>What are receiving reports?</h3>
Receiving reposts is a kind of tool that is used to list, document or note all the transaction details of the businesses. It is generally updated and maintained by those employees of the staff who are responsible for receiving or accepting the delivery of goods.
Thus, an auditor runs a test to ensure that every item received is recorded in order to evaluate whether accounts payable are complete. The receiving reports are the population of documents for this test.
Learn more about receiving reports here:
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Answer:
Economies based on the exploration of raw materials were established in Sub-Saharan Africa.
