1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vova2212 [387]
3 years ago
7

When a smaller country with fewer resources specializes its production and gains access to larger, international markets, this c

an create
Business
1 answer:
KATRIN_1 [288]3 years ago
6 0

Answer:

Economies of scale.

Explanation:

In Microeconomics, economies of scale can be defined as cost reductions or cost advantages that arises when a business entity is increases its production or are large in size.

This ultimately implies that, when an organization chooses a convenient scale of operation or reduce its scale of production, this would lead to a reduction in the cost of production and consequently, some benefits such as lower long-run average cost, increased sales, profits and lower cost price for the consumers of these finished products.

Generally, economies of scale arise when a smaller country with fewer resources specializes its production and gains access to larger, international markets. This is so because having a good number of professionals and experts would increase the level of production or output, as they are quite conversant with the best method of production, time management and efficiency.

Hence, when a smaller country with fewer resources specializes its production and gains access to larger, international markets, this can create economies of scale.

You might be interested in
Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?
zubka84 [21]

Answer: Budgeting helps to plan, coordinate , delegate responsibility and enhancing clarity in pursuit of an organisation.

Explanation: Every budgets is principally prepared to achieve a set target  but there some limitations which makes it  difficult for some companies to prepare and follow through with a budgeted plan action. Some of these limitations at any given point in time affect the activities of the organisation. It may be traced to Production capacity, shortage of labour, materials, space, Finance and customer demand. This  limitation can at any point in time affect the overall plan of the organisation making it difficult to achieve their set target .

7 0
3 years ago
Read 2 more answers
What is the goal of a press release?
VladimirAG [237]
B. creating positive media attention
4 0
3 years ago
Read 2 more answers
Chez Fred Bakery estimates the allowance for uncollectible accounts at 1% of the ending balance of accounts receivable. During 2
steposvetlana [31]

Answer:

See below

Explanation:

Per the above information,

Ending account receivable balance = Beginning account receivable + Credit sales - Collections - Written off amount

$93,000 = Beginning account receivable + $108,000 - $142,000 - $130

$93,000 = Beginning accounts receivable - $34,130

Beginning accounts receivable = $93,000 + $34,130 = $127,130

So, the beginning account receivable would be;

The ending accounts receivable is computed as;

= $930 ÷ 1%

= $93,000

7 0
3 years ago
Blackwelder factory produces two similar products-small lamps and desk lamps. the total plant overhead budget is $640,000 with 4
olasank [31]

Answer: b. $188,800 Blackwelder Company will allocates $188,800 to desk lamp production if the actual direct hours is 118,000.

We have the following:

Total Plant Overhead = $640,000

Total Estimated Direct labour hours = 400,000 hours

Actual labour hours for desk lamp = 118, 000 hours

Overhead allocation rate = \frac{Total overhead}{Total estimated direct labor hours}

Overhead allocation rate = \frac{640,000}{400,000}

Overhead Allocation Rate =  $1.6

Factory overhead allocated = Overhead allocation Rate * Actual labour hours [/tex] [tex] Factory overhead allocated = $188,800 (1.6 * 118,000)

3 0
3 years ago
there is a surplus of a new brand of cereal on the market. what will likely happen to the price of the cereal?
Lerok [7]

Answer:

The price of the cereal would fall.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

When there is a surplus of a new brand of cereal in the market. What will likely happen to the price of the cereal is that the its price would fall.

3 0
3 years ago
Other questions:
  • According to Duffy-Deno (2003), when the price of broadband access capacity (the amount of information one can send over an Inte
    7·1 answer
  • Suppose you held a diversified portfolio consisting of a $7,500 investment in each of 20 different common stocks. The portfolio'
    9·1 answer
  • As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue t
    10·2 answers
  • The government of a country increased the minimum wage from $21 to $30. A factory owner had to lay off some of his workers becau
    10·2 answers
  • ordinary annuity payments are made: a) at the end of the period b)yearly c)monthly d)at the beginning of the period e)none of th
    8·2 answers
  • In the Keynesian-cross model, fiscal policy has a multiplied effect on income because fiscal policy: changes income, which chang
    14·2 answers
  • Concord Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at
    9·1 answer
  • Zach is on trial for breaking and entering, a crime. Zach wants to argue that he is not guilty because he did not "break" open t
    14·1 answer
  • A Union worker is to see an increase in pay of 2.5% per year next year. Her salary is $41,000 yr. If inflation was predicted
    13·1 answer
  • Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!