Considering the situation described above, if country A has a comparative advantage in producing good X over country B, then: <u>the domestic opportunity cost of producing X in country A is lower than in country B.</u>
<h3>What is Opportunity Cost?</h3>
Opportunity cost is often used in economics to describe the profit lost when one choice or option is taken over another.
<h3>What is Comparative Advantage?</h3>
Comparative Advantage is the term used to describe the economy's capacity to produce a specific good or service at a lower opportunity cost than its trading competitors.
Therefore, given that country A has a comparative advantage in producing good X over country B, this equates to country A having a lower opportunity cost than country B.
Hence, in this case, it is concluded that the correct answer is option C.
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Most trade is due to the comparative advantage of an organization's ability to produce a good or service with lower marginal cost and opportunity cost.
As an example, we can cite trade between Africa and the United States, where Africa markets agricultural products such as corn and citrus to the US, and the US markets technological products such as computers to Africa.
Therefore, companies will use comparative advantage to acquire goods and services at lower prices than other competitors.
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Answer:
both the required reserve ratio and the market interest rate (A)
Explanation:
The Federal Reserves influences the money supply by manipulating required money banks deposit reserve ratio, market interest rate and open market operations. If the Federal reserves wants to increase the supply of money, it will reduce the required reserve ratio by banks. Thus commercial bank would have more money at their disposal to lend to clients.
Also, the Federal Reserves, which is the apex bank and regulator of ALL bank, play the role of ''lenders of last resort'', hence they lend money to commercial banks, when they are constrained financially, by this, banks are able to lend to customers with ease.
Furthermore, the Federal reserves also buys and sells securities, which it uses to either increase the supply of money or reduce the supply of money in the economy, and can use this model to also address economic problem such as inflation.
Replacement chain approach can be used to compare mutually exclusive repeatable projects with unequal lives if inflation in the costs and/or cash flows of the projects is expected when the projects are repeated.
Value chains assist businesses in being more efficient so they can provide the most value for the least amount of money. A value chain's ultimate objective is to give a business a competitive edge by boosting productivity and controlling costs. The value chain strategy aims to comprehend an industry's businesses, from input suppliers to end-user consumers, as well as the support markets that offer the sector's technical, commercial, and financial services and the overall business environment. The value chain strategy aims to comprehend an industry's businesses, from input suppliers to end-user consumers, as well as the support markets that offer the sector's technical, commercial, and financial services and the overall business environment. The many business operations and procedures involved in producing a good or providing a service are referred to as the value chain. Research and development, sales, and all other phases of a product or service's lifespan can be included in a value chain. Value chains assist businesses in becoming more efficient so they can provide the most value for the least amount of money. A value chain's ultimate objective is to give a business a competitive edge by boosting productivity and controlling costs.
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