The question is not complete, last part of the question is missing which I write below;
Which of the following principles of economic interaction best describes this scenario?
And the answer is "trade can make everyone better off
".
Trade can make everyone better off in light of the fact that it enables nations or companies to work in what they excel at and to appreciate a more extensive assortment of products and ventures.
The three principles concerning economic interactions are:
(1) Trade can make everyone better off;
(2) Markets are generally a better way to arrange economic activity
(3) Governments can at times develop market outcomes.
Answer: According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in the production of those goods and services "a. they can provide at a lower opportunity costs."
Explanation: The comparative advantage is the ability of a country to produce a good using relatively less resources than another. The theory of comparative advantages says that Each country in question will specialize in what is most efficient. At the same time, it will import the rest of the products in which they are most ineffective in terms of production. Although a country does not have an absolute advantage in producing any good, it may specialize in those goods in which it finds a greater comparative advantage and finally be able to participate in the international market.
In accounting, the long-term liabilities<span> are shown on the right wing of the balance-sheet representing the sources of funds, which are generally bounded in form of capital assets. Examples of </span>long-term liabilities<span> are debentures, mortgage loans and other bank loans.
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Depreciation is an accounting method for allocating the cost of a tangible or physical asset over its <u>usable life</u>. Depreciation is a term used to describe<u> how much</u> of an asset's worth has been used.
<h2>Given:</h2>
Initial value of the Car = 25,000
Depreciation of the Car= 15% per annum based on net book value
<h3>The computation:
</h3>
Note: t = Number of years
As a result, the car's approximate value 5 years after purchase is 11,092.50.
For more information about computing sum, refer below:
brainly.com/question/1373966
Answer:
The industrial revolution affected the whole global economy, social relations, and culture.
The industrial revolution changed how goods were manufactured, and it all started with the European accumulation of capital and the invention of the steam engine.
The two major sources of energy were coal and oil that were used to power steam engines that moved machinery using water steam. That led to work specialization and urbanization (people moving into large urban areas).
The industrial revolution first started in northwestern Europe, but it then spread to the US, Russia and Japan. The global economy developed new patterns of global trade and production between nations that produced resources and those that processed them and produced goods.
Exporting economies grew around the world because of the need for exporting both raw materials and food supplies from resource producing nations, and the need for exporting finished goods form industrialized nations.
