Answer:
Explanation:
Trevor's team has positive leader-member relations
Answer:
Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.
Explanation:
Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.
Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.
The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.
Ex : Production Possibilities
Wine Sweater Trade off (Wine :Sweater)
France 10 5 1:0.5 or 2:1
Tunisia 8 24 1:3 or 0.33:1
- France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
- Tunisia produces Sweater with less opportunity cost (wine sacrifised) than France [ 0.33 wine < 2 wines] ; it has comparative advantage in Tunisia
Answer: indenture
Explanation:
The bond indenture is a legal contract that or covers a purchase obligation or a debt.
Therefore, the legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond indenture. This document describes the number of bonds authorized, their par value, and the contract interest rate.
Answer:B
Explanation:
This is because as one's income increases his aggregate demand also increases as they both have direct relationship with each other.
Answer:
Opportunity cost
Explanation:
A country is said to have a comparative advantage in producing a good, if it has a lower opportunity cost of producing that good in comparison to the other country. For instance if the opportunity cost of producing Wheat in U.S is 2. While that in China is 1. It shows that China has a comparative advantage in producing wheat as compared to the U.S.
So a nation that has a comparative advantage in producing a good or service compared to the other nation can produce that good or service with a lower opportunity cost.
Efficiency, Profit and Resource cost are not directly related to comparative advantage. Although efficiency can contribute towards lower opportunity cost but it is not a scale used for international trade.
Thus, lower opportunity cost is the best alternative.
