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Stella [2.4K]
2 years ago
10

If a nation has a comparative disadvantage in the production of some commodity: Group of answer choices it cannot gain from inte

rnational trade unless it has an absolute advantage in every other commodity. it can gain from international trade in that commodity only if it has an absolute advantage in that commodity. it cannot gain from international trade in the commodity. it can still gain from international trade in that commodity, by getting it at a lower opportunity cost than if it produced it domestically.
Business
1 answer:
vazorg [7]2 years ago
7 0

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

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Danny's choice to go against other people decision and using a detailed and different consideration for the employee decribed he used a rational decision making model, he still believed in the individual when others did not, and this affected his decision and didn't allow that of others to influence him.

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In its income statement for the year ended December 31, 2019, Sheridan Company reported the following condensed data. Operating
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Answer&Explanation:

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Should you include personal date on a resume ? explain your answer?​
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Answer:

a.

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b.

The type of authority which professional tax research conclusions should be based on are the primary sources.

Explanation:

a.

Primary sources of tax information are documents that are provided directly by an authority usually the government. Primary sources usually carry heavy weight especially when there is a conflict in the understanding of a federal tax law. These sources are often used by law practitioners as a basis in understanding cases of a similar nature. Some examples of primary sources of tax information include; internal revenue code, final and temporary regulations, non-codified federal tax statutes, and judicial decisions on tax matters. In general primary sources represent the law itself as interpreted by the statutory, administrative and judicial entities of the government. They can be used in a case where a tax payer in arguing his or her case about their tax position in a court of law.

Secondary sources of tax information are documents that are provided by information vendors who provide research services, legal analysis and tax professionals. These sources usually rely on the professionalism and experience of individuals who have gained a reputation on tax law for advice and direction. Some examples of secondary sources include; legal periodicals like academic journals, legal analysts, scholars and tax law reporters. Secondary sources can be generally defined as interpretations of the law done by non-governmental entities.

b.

Professional research is usually done to enable one advance in his/her career in order to gain acceptance as an expert in that particular field. For one to join the ranks of a professional, they first need to prove their mastery of the knowledge in that particular profession. In our case, one needs to be aware of the law as provided by an authority. This means that one needs to argue his/her case in reference to the primary sources since these sources carry more weight in terms of understanding and experience as opposed to secondary sources that represent personal views that might be susceptible to bias. On this note, the type of authority which professional tax research conclusions should be based on are the primary sources.

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