The correct matches are the following.
1. Increasing the number of products your company exports from the United States to Canada without tariffs that could hurt profits. = e) NAFTA.
2. Resolving an issue that involves rules of trade that are impacting your business as you try to increase distribution to several markets in Africa. = b) World Trade Organization.
3. Selling your products to an expanding middle class of consumers in Guatemala. = d) DR-CAFTA
4. Problems selling to Japanese consumers due to the instability of the exchange rate between American and Japanese currencies. c) International Monetary Fund.
5. Allowing your manufacturing plant in Spain to quickly reduce barriers in its efforts to market and sell products in France. = a) European Union.
Knowing these organizations and their main functions will help you to understand foreign trade, its characteristics in a b¿globalizaed world, and the peculiarities according to each region. Every trade agreement has its details and you want to become an expert in the region you choose to maximize your sales and profits.
That is why many countries associate in trade agreements, as is the case of NAFTA, the North America Free Trade Agreement signed by Mäxico, the United States, and Canada, now turned into USMCA, the United States, México, and Canada Agreement.
Answer:
Earning $700,000 next year playing for a European professional football team
Explanation:
Opportunity cost is the sacrificed option in decision making. The value of opportunity cost is expressed as the forfeited benefits from the next best alternative. Opportunity cost arises due to scarcity of resources, including time and finances.
The student-athlete cannot be in school and engage in play in a professional league in the same year. The student has to pick one option as he or she cannot be in two places at the same time. The forfeited option is the opportunity cost. In the case of many options, the forgone option with the highest value is the opportunity cost. For this student-athlete, $700,000 missed for not playing for a European professional football team is the opportunity cost. It represents the next best alternative from the option chosen.
This idea is most consistent with LAISSEZ FAIRE type of management in which the employees are allowed to use their ideas and creativity to flourish in their areas of specialization. The management takes a back seat role in the company and only offer guidance when needed.
Answer:the quantities of some factors of production are fixed; the quantities of all factors of production can be varied - D
Explanation:
In the short run, some factors of production are fixed, which is usually the capital. Therefore for a company to increase output, it would need employ more workers, but would not increase capital.
Therefore in the short run, we can get diminishing marginal returns, which may cause marginal costs to start increasing quickly.
Also, in the short run, prices and wages fall out of equilibrium because a sudden rise in demand may lead to higher prices, and companies may not have the the capacity to respond and increase supply.
Long run
In the long run, usually greater than 6 months, all main factors of production are variable. The company has time to build a bigger one making it respond to changes in demand which means that a sudden rise in demand, would have a complimentary increase in supply to meet the demands and prices can be adjusted.
.
Answer:
$527,000
Explanation:
Preparation of a CVP income statement for the quarter ended March 31, 2017.
Russell Inc.income statement for the quarter ended March 31, 2017.
Sales $2,300,000
VARIABLE EXPENSES
Cost of goods sold $940,000
Selling expenses 74,000
Administrative expenses 96,000
Total Variable Expenses 1,110,000
Contribution Margin 1,190,000
($2,300,000-$1,110,000)
FIXED EXPENSES
Cost of goods sold $464,000
Selling expenses 54,000
Administrative expenses 145,000
Total Fixed Expenses 663,000
Net Income/(Loss) $527,000
(1,190,000-663,000)
