Answer: The following statements is false: <u><em>Mutual aid and assistance arrangements and Memorandums of Understanding (MOUs) cannot be used for supplementing incident staff.</em></u>
The above statement is wrong since mutual aid, assistance arrangements and memorandums of understanding can be used for supplementing incident staff.
<u><em>Therefore, the correct option is (c).</em></u>
Answer:
The Micro Islands have a comparative advantage in producing botanical soaps.
Explanation:
Comparative advantage can be defined as the ability of an economy to produce a good at lower opportunity cost than other economies. This enables the economy sell the product at lower prices, therefore having higher margin of profit than other economies.
The opportunity cost of Micro Island in producing 300 botanical soaps is the cost of producing 30 bamboo towels. The opportunity cost is quite low.
While for Macro Island the opportunity cost of producing 500 botanical soaps is 250 bamboo towels. The opportunity cost is higher than for Micro Island.
Answer:
The answer is 2.25
Explanation:
Price Elasticity of Supply (PES)= percentage change in Quantity demanded/ percentage change in price
PES= (30-20)/20 *100) /( 55-45)/45*100) = 50%/22.22% = 2.25
Answer:
b
Explanation:
There are two types of forecasting method
1. Qualitative forecasting
2. Quantitative forecasting
Qualitative forecasting can be described as when subjective judgement or non quantifiable information in forecasting.
<em>When is qualitative forecasting suitable ?</em>
- It is used when historical data in unavailable.
- this method is suitable when it is predicted that future result would depart from what historical data may suggest
<em>Advantages of Qualitative forecasting </em>
- it is flexible
- It can be used when data available is ambiguous or unclear
<em>Disadvantage of Qualitative forecasting </em>
It is subjective.
Quantitative forecasting can be described as forecasting using historical data
