According to the theory of comparative advantage, trade and specialization ________ productivity by ________ opportunity costs.
The theory of comparative advantage suggests that trade and specialization raise productivity by minimizing opportunity costs, explaining why countries participate in international trade.
According to the theory of comparative advantage, trade and specialization increase productivity by lowering opportunity costs. The theory explains why countries engage in international trade. Every trading country can benefit, due to the reduced opportunity costs. For example, if Country A specializes in producing good 1 with less resources than Country B, while Country B specializes in producing good 2 with less resources than Country A, then Country A should focus on producing good 1 and Country B should focus on producing good 2. This allows both countries to consume a combination of goods that would be impossible to consume in the absence of trade.
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The dishonor of an instrument relieves secondary parties of liability.
a. True
b. False
Susan, 56 years of age, and her daughter beverly, 28 years of age, are both secretaries. they both apply for the same job, and although susan has much more experience, the company hires beverly because, as one of the company's owners says, "who wants a wrinkled old lady to work in our office?" this attitude reflects
What strategies should they use to research and purchase a used car and other high dollar items such as furniture?
Of the 4,092 pedestrian fatalities nationwide in 2009, __________ were Floridians. A. 2% B. 11% C. 19% D. 22%
Consumers generally shop and compare on their computers, then purchase with their smartphones.truefalse
The fact that iq scores have, on average, risen over the past century is called the ________ effect.
Students who are completing classes and school work at their own pace, in any location or any time, are often known as
Now that you have made the necessary product adjustments, what will you do next
Art and technology interact in the appearance of the volkswagen beetle as newer safety standards affect the _____ of the vehicle.
The answer to this question is design of the vehicle.
Safety standards are standards that are used of the companies to promote safety of products and the company’s processes. This is also the procedures of the company that the employees follow in order to promote a safe working environment to all workers.
If the paper reports a particular corporate bond price as 79.5, the price an investor would have to pay is ________.
If a model can be applied successfully by people in all areas and levels of an organization, it is said to possess the trait of:
Answer:
The correct answer is : understanding their followers and their needs.
Explanation:
The "great man" theory of leadership proposed by Scottish philosopher Thomas Carlyle (1795-1881) exposes diverse personality traits good leaders must have in front of different situations. Among the traits, understanding their followers and their needs implies leaders helping group members to succeed individually and as a whole organization regardless of the hierarchy.
A retail store credited the sales revenue account for the sales price and the amount of sales tax on sales. if the sales tax rate is 5% and the balance in the sales revenue account amounted to $294,000, what is the amount of the sales taxes owed to the taxing agency? $14,000 $14,700 $280,000 $294,000
Answer:
14,000
Explanation:
Sales revenue x (100% + sales tax rate) = sales revenue with tax
sales revenue x 1.05 (100% + 5%) = 294000
sales revenue = 294000/1.05
sales revenue = 280,000
sales tax with tax - sales revenue = sales tax
294,000 - 280,000 = 14,000
Six months ago, several of molly's friends joined the trimtime fitness center. each of them participated in trimtime's weight-reduction and fitness regimen. all reported substantial weight reduction, and all are visibly slimmer. molly is convinced. she joins trimtime and enrolls in the same program, hoping and expecting to see the same results. she is especially delighted to learn that trimtime had adjusted its program to make it even more effective in a shorter period of time. is this an analogical argument or a generalization?
Consider two cigarette companies, pm inc. and brown inc. if neither company advertises, the two companies split the market and earn $50 million each. if they both advertise, they again split the market, but profits are lower by $10 million since each company must bear the cost of advertising. yet if one company advertises while the other does not, the one that advertises attracts customers from the other. in this case, the company that advertises earns $60 million while the company that does not advertise earns only $30 million. refer to scenario 17-4. if these two companies collude and agree upon the best joint strategy,
a. neither company will advertise.
b. both companies will advertise.
c. pm inc. will advertise but brown inc. will not.
d. brown inc. will advertise but pm inc. will not.
To solve this problem, let us try to break down each scenario one by one. We must calculate the total earnings that the two companies receive for each scenario.
Scenario 1: Neither company advertise
Earning of PM Inc = $ 50 M
Earning of Brown Inc = $ 50 M
Total Earning = $ 100 M
Scenario 2: Both companies advertise
Earning of PM Inc = $ 40 M
Earning of Brown Inc = $ 40 M
Total Earning = $ 80 M
Scenario 3: One company advertise, let us say PM Inc is the company who advertise and Brown Inc does not
Earning of PM Inc = $ 60 M
Earning of Brown Inc = $ 30 M
Total Earning = $ 90 M
We can see that Scenario 1 has the largest total earnings of all scenarios. Therefore the best strategy is:
A. neither company will advertise
A large bureaucratic organization is about to undertake a massive change in the way they do business. these changes will include redesigning processes
The primary explanation of trade among nations is ricardo's theory of:
A computerized inventory system that simulates needed materials requirements for the finishedâ product, and then compares production needs to available inventory balances to determine when orders should be placed is theâ ________.
A materials requirement planning system is the computerized inventory system that simulates needed the materials requirements for the finished product.
What is a materials requirement planning system?This is an inventory tool used in the production process that requires the analyses of current inventory levels and production capacity.
This tool helps to understand the need to manufacture goods based on forecasts.
Therefore, the materials requirement planning system is correct.
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In ancient Greece, a group of people living together with the common purpose of taking care of each other through economic activity was called a
A team has been established to solve a problem with an industrial adhesive used by the firm. the three members are the installer, an engineer, and the sales representative for the adhesive manufacturer, but the team does not have a specific leader. this team can be called a ________ team.
The answer is self-managed team. It is a group of people, usually workers in a company, who combine different expertise and capacities to work without the typical managerial supervision toward a shared purpose or goal. They are also called self-directed team or self-managed natural work team.
The team consisting of an installer, an engineer, and a sales representative for the adhesive manufacturer is known as a problem resolution team, aimed at solving a specific issue with an industrial adhesive.
Explanation:The team described in the question, which consists of an installer, an engineer, and the sales representative for the adhesive manufacturer without a specific leader, is best characterized as a problem resolution team. Problem resolution teams are focused on solving specific issues, which in this case is related to addressing a problem with an industrial adhesive used by the firm. This team structure often encompasses individuals with diverse expertise and perspectives to combine knowledge and achieve a workable solution in a specific area.
In engineering and business contexts, the integration of cross-functional skills, such as those from the installer, engineer, and sales representative, enable the team to consider multiple aspects of the problem, including application, technical specifications, and commercial implications. The cooperative effort of such a team is crucial in finding a successful resolution that aligns with the firm's operational and business objectives.
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Naomi is preparing the company’s cash budget. when preparing the cash receipts section, she included cash sales, receipts of interest, receipts of dividends, and proceeds from planned sales of plant assets. what error did naomi make? will cash receipts be too high or too low as a result of this m
The error of Naomi is that she included the receipts of interest, receipts of dividends, and proceeds from planned sales of plant assets in the cash receipts section. This section would only include the cash sales and collection of accounts receivable with the forecasted sales per month of the company. As a result of this error, the cash receipts would be too high.
Which of the following would be a helpful tool to help nations, communities, and families compensate for scarcity while trying to get what they wanted and needed
When team members experience conflict because they are trying to make sense of competing ideas about how the team should work, they are in the storming stage of team development?
James has just joined coratech systems, where he has been assigned to paul and natalie for sources of information about the company. paul and natalie introduce james to others at coratech, give him an office tour, and assure him that they will meet him regularly for the first few weeks, to help him in the transition to the new company. in this scenario, paul and natalie are part of the coratech's _____.
Pavel is using the story line approach in his presentation. he says that the coffee shop chain he works for faces the challenge of improving its customer service orientation. after describing a sandwich chain that is similar to his company in size and target market, he explains the specific approach to training that the sandwich chain implemented in order to improve customer service. what aspect of a business story does his explanation about the training program represent
The answer to this question is a business resolution. A business resolution is also known as a corporate resolution which means the business or company’s solution to a problem in the company. A business resolution was being decided by board of directors of the company which they have agreed and voted.
At certain times banks may not be willing to fully loan out all of their _____________ and customers may not be willing to borrow.
At certain times, banks may not be willing to fully loan out all of their deposits, and customers may not be willing to borrow due to various factors such as economic conditions.
During economic downturns or periods of financial uncertainty, banks become more cautious in their lending practices. This was evident during the fall of 2008, when the quantity of loans decreased, as many customers were viewed as higher credit risks, and the uncertainty of repayment extended beyond households to other banks and firms, primarily due to concerns over asset valuations.
Banks employ strategies to mitigate risks, such as diversifying their loans and selling some in the secondary loan market while retaining more liquid assets like government bonds or reserves. However, a lengthy recession can still negatively impact a bank's net worth due to an increase in loan defaults. Banks also face the challenge of an asset-liability time mismatch, where they may have to pay higher interest rates to depositors while earning less from longer-term loans, especially if interest rates rise unexpectedly.
_____ is a cost that relates to all errors not detected and not corrected before delivery to the customer.
Allstar sporting goods, a national retail chain, has a system that provides a continuous flow of information about such things as distribution costs, prices, sales, and advertising expenses. this is called a
Sandy's sauces, which produces stirminus fry âsauces, is developing direct material standards. each bottle of sauce requires 0.51 kilograms of base. the allowance for waste is 0.5 kilograms perâ bottle, while the allowance for rejects is 0.4 kilograms per bottle. what is the standard quantity of base perâ bottle
Jim is 50 and wants to buy $250,000 of life insurance. find the annual cost for whole life insurance.
If you are planning to have a 20 – year length of life insurance with the amount of $250000, then you will have an annual cost of $42.58. This rate is based on the premium rates of most of the life insurance carrier. The amount will also matter if you are healthy or has already several records of illness.