Answer:
a. Sansa: 5 daggers per week
Arya: 10 daggers per week
b. Sansa's opportunity cost of making a dagger: 2 shields
Arya's opportunity cost of making a dagger: 3 shields
c. Sansa
d. Arya
Explanation:
a. The maximum number of products made in a week is determined by dividing their weekly time capacity with the time demanded for each piece. So, to determine Sansa's maximum number, just divide 30 hrs / 6 hrs = 5. The same applies for Arya and shields too.
b. The opportunity cost is determined as the missed benefit when Sansa/Arya opts for one product. So, when Sansa chooses to dedicate 6 hours of her working time to make a dagger, she misses the benefits of having 2 shields, as she was able to make 2 shields for the same time frame (6 hours). The same applies for Arya.
c. Comparative advantage is determined by comparing the opportunity costs associated with each product and competitor. Since Sansa's opportunity cost in making daggers is lower than Arya's (2 shields compared to 3 shields), Sansa has a comparative advantage over Arya in making daggers.
d. Absolute advantage is determined as the ability of an individual to produce the same (or greater) number of output than the competitor, given the same time frame. It is evident that Arya has an absolute advantage over Sansa, as she can create more shields and daggers than her in the same time frame (30 hrs).
Based on the given scenario above regarding Wang's Techno toys which was successfully run by Ann Wang, the method of import or export financing that the Techno Toys' bank used if it functions as an intermediary without considering any financial risk is called the DOCUMENTARY COLLECTION.
I think the answer is Party
Answer:
Option E.
All 4 of the listed benefits are correct
Explanation:
Self-regulation in business is a practice whereby businesses come together to set standards and guidelines for themselves and any other new business that are coming into the industry.
All the options are correct when we are talking about the benefits of self-regulation
A. It is less expensive when businesses self regulate since they would set standards and prices that favour themselves rather than when those regulations are out in place by external bodies.
B. The guidelines set by the businesses are practical and realistic as they will only agree on what will work out well for themselves
C. Since the bodies can regulate their industrial activities themselves, there is no need for the government to step in.
D. It is relatively easier for the associations to enforce the guidelines since they are all in the same industry and they belong to the same association.
