Explanation:
Spain's opportunity cost of producing a pound of cheese is
= 4 barrels of oil
Austria's opportunity cost of producing a pound of cheese is
= 10 barrels of oil
Spain's opportunity cost of producing a barrel of oil is
= 
= 0.25
Austria's opportunity cost of producing a barrel of oil is
= 
= 0.1
A country is said to be having a comparative advantage in the production of a commodity if it has a relatively lower opportunity cost of production.
Here, Spain has a lower opportunity cost of producing cheese, so it has a comparative advantage in producing cheese.
Similarly, Austria has a lower opportunity cost of producing oil, so it has a comparative advantage in producing oil.
Spain can gain from trade as long as it is getting more than 4 barrels of oil for a pound of cheese.
While Austria can gain from trade as long as it is getting more than 0.125 pounds of cheese for a barrel of oil.
Both will gain from trade if the price of the trade is 9 barrels of oil per pound of cheese and 7 barrels of oil per pound of cheese.
Spain will not accept 1 barrel of oil per pound of cheese and Austria will not pay 16 barrels of oil per pound of cheese.
The above characteristics have been classified as belonging to the traditional or lean organizations as follows:
- Traditional - B. Maintain greater quantities of raw materials, work in process, and finished goods inventories.
- Traditional - C. Setup times are longer.
- Traditional - A. Manufacturing plants tend to be organized with self-contained production cells.
- Lean - E. Produce in smaller batches.
- Lean - F. Emphasis is placed on shortening manufacturing cycle times.
- Lean - D. High quality is stressed in every aspect of production.
<h3>Meaning of Lean and Traditional Organizations</h3>
A traditional organization is a business structure that has many workers and departments. They take time to set up and have a large inventory.
Lean businesses, on the other hand, produce in small batches and place emphasis on quality.
Learn more about lean and traditional organizations here:
brainly.com/question/4544412
Answer:
C .researching technology
Answer:
b) directing
Explanation:
The four main management functions are:
- planning
- organizing
- directing
- controlling
Originally, there were 5 main management functions developed by Henri Fayol (staffing was the fifth one) in the early 20th century. Fayol's management theory is still applied today, although it has been modified and updated.
Answer:
B : $70,000
Explanation:
The formula and the computation of the annual rate of return is shown below:
= Annual net income ÷ average investment
where,
Annual net income is XXXXX
And, the average investment would be
= (Original investment required + salvage value) ÷ 2
= (120,000 + $20,000) ÷ 2
= $140,000 ÷ 2
= $70,000
By placing these values we can easily compute the annual rate of return
