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3 years ago

In general, individuals and nations should specialize in producing those goods for which they have a(n):

Business

1 answer:

lesya [120]3 years ago

8 0

Answer:

Comparative advantage.

Explanation:

Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.

The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.

In 1817, David Ricardo who is an english political economist talked about the law of comparative advantage in his book “On the Principles of Political Economy and Taxation." Also, the principle of comparative advantage states that, nations (countries) can become better off than their contemporaries through the process of specializing in what they know how to produce or do best.

This simply means that, any country applying the principle of comparative advantage, would enjoy an increase in output and consequently, a boost in their Gross Domestic Products (GDP).

In general, individuals and nations should specialize in producing those goods for which they have a comparative advantage.

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Which of the following is NOT one of the six marketing fundamentals?

irina1246 [14]

Answer:

b. the goal of marketing is to set the price

Explanation:

6 fundamentals of marketing includes: satisfaction of customers needs or demands, continuous nature of marketing, sequential steps in marketing, key role of marketing research, interdependence of hospitality and travel organizations, organization-wide and multi department effort.

The goal of marketing has to to be the satisfaction of customers and the captured value from customers and business relationship.

Plan about price has to be set, adjusted based on the changes and requirements of customers' needs and wants.

5 0

3 years ago

On January 1, 2011, The Miller Corporation purchased 300,000 shares of The Mayfair Corporation for $5.7 million. The investment

kow [346]

Answer:

2011 Value of investment in Mayfair

= Beginning investment value + Portion of Mayfair net income - Portion of Mayfair dividends

= 5,700,000 + (40% * 2,250,000) - (300,000 shares * 0.15)

= $‭6,555,000‬

2012 Value of investment

= Beginning investment value + Portion of Mayfair net income - Portion of Mayfair dividends

= 6,555,000 + (40% * -180,000) - (300,000 * 0.15)

= $‭6,438,000‬

7 0

2 years ago

Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior.

mario62 [17]

Answer: False

Explanation:

Ethics are the moral principles which govern the behavior of a person. Ethics help us to know what is right or what is wrong.

Ethics Training program are done in order to enable workers to be able to identify and also deal with the ethical problems that they may face.

Therefore, the statement that "Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior" is false.

6 0

3 years ago

The business market consists of all the organizations that acquire goods and services used in the production of other products o

RideAnS [48]

Answer:

The major types of industries that make up the business market are agriculture industry, forestry industry, mining industry, manufacturing industry ; construction industry and transportation industry; communication industry, banking, finance and insurance industry.

Explanation:

a) Agricultural industry entails group of firms involving in rearing of animal and growing of both cash crop or food crop either majorly for commercial purpose / use

b) Forestry industries are group of firm who specialize in afforestation and deforestation of trees with a goal of maintaining environmental well-being, majorly for commercial purpose

c) Mining industry are industry who specialize in extraction from the soil raw materials required by other industries. Extraction like crude oil, Coal

d) Manufacturing industry are group of firm whose main objectives is to process raw material into finish good for use by the market and for commercials industry.

e) Transport industry are industry that specialize in movement of people and cargo from one destination to another through land, rail, sea or road

f) Construction industry specializes in buildings of building, roads, bridges and other structure for commercial

and personal use.

g) Communication industry specializes in enabling individual to transmit information from his end to another end.. It ranges from Media to Internet and Phone as all these fall under communication community.

h) Banking, Finance and Insurance industry are industry who accept deposit, gives loans to organisation, provide insurance cover over a particular risk, offers organisation financial advice, offers audit.

4 0

3 years ago

The checkbook balance of Lester Co. was $922.55. The bank statement revealed a balance of $3,881.14. The bank statement showed i

storchak [24]

Answer:

The reconciled balance is 7,294.14

Explanation:

bank statement 3,881.14

deposit in transit 9,555.88

oustanding check<u> (6,142.88) </u>

bank statment 7.294,14

From the bank accout we deduct the outstanding check and increase by the deposit in transit.

accounting 922.55

interst 77

service charge (38.22)

note collected 6,815.00

check <u> (482. 19) </u>

accounting 7.294,14‬

From the accounting we adjust for the transaciton which aren't know by the company:

the interest and service charge, the note colected and we also adjsut for mistake like the check not deducted.

in both we must reach the same final answer.

4 0

3 years ago