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3 years ago

To achieve gains from trade, each nation should specialize in the production of a good or service if:

Business

1 answer:

irinina [24]3 years ago

3 0

Answer:

Explanation:

A country gains from trade if it specialises in the production of the good for which it has a comparative advantage

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries. this means that the country can produce the good by forgoing fewer alternative products

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 A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice

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A psychograhic characteristic is a way to define a target market by finding similar attitudes, lifestyle , or value.
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3 years ago

Marketing firms strive to ensure that people are aware of their products because people assume that if they have heard about cer

madam [21]

Answer:

Exposure Bias

Explanation:

Basically, exposure bias states that consumer are more likely to buy brands which have higher brand recognition than new companies with no name recognition.

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3 years ago

Selected financial statement data for Schmitzer Inc. is shown below: 2021 2020 Balance sheet: Inventories 75,000 63,000 Ratios:

kondaur [170]

The amount of net sales for 2021 is $1,035,000.

Average inventory = (Beginning inventory + Ending inventory) / 2

Average inventory = ($63,000 + $75,000) /2

Average inventory = $69,000

The formula for Inventory turnover ratio is {Cost of goods sold/Average inventory]

6 = Cost of goods sold / $69,000

Cost of goods sold = $414,000

Given Gross profit ratio is 40%: Gross profit = 40% on sales

Let the sales be $K

Gross profit = Sales - Cost of goods sold

0.4K = K - $414,000

0.4K = $414,000

K = $414,000 / 0.4

K = $1,035,000

Therefore, the amount of net sales for 2021 is $1,035,000.

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brainly.com/question/14161287

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2 years ago

As an HR specialist at a large auto manufacturer, you have noticed that many of the technicians employed by your firm are bored

mafiozo [28]

Answer:

implementing a job rotation program.

Explanation:

An auto manufacturing plant will have a process of production that promotes division of labour an monotony at work.

One of the disadvantages of division of labour is that it creates monotony, and the workers become bored with their jobs.

However if the workers on the company create a job rotation program, monotony will be reduced.

They will be engaged on different job roles that will make their jobs more exciting. This will result in increased productivity as they are more engaged at work.

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3 years ago

Read 2 more answers

What are the main advantages and disadvantages of organizing a firm as a corporation? the advantages are: (select all the cho

Elena L [17]

I believe the answers are:

a. there is no limit on the number of owners a corporation may have, thus allowing the corporation to raise substantial amounts of capital.

They do this by selling shares on the stock market. When the shares is sold in this place, every individuals who can afford the price of a single share are eligible to be part owner of the corporation.

b. the life of the business can continue beyond the death of any of the owners.

In corporations, when one of the owners somehow died, the ownership of the corporations would be transferred to the person whould receive the inheritence (usually immdediate family members)

c. the corporation can use the assets of the owners to pay for corporate liabilities.

This happen during the liquidation process. To pay for corporate liabilities, owners had to sell their assets with the equal value of their percentage of their ownership times the amount of liabilities.

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3 years ago