Suppose that in Mexico, it takes four labor hours to produce one shirt and 12 labor hours to produce one computer. Suppose that in the United States, it takes four labor hours to produce one shirt and three labor hours to produce one computer. If both countries have 60 labor hours available, completely specialize according to comparative advantage, and trade 7.5 shirts for 7.5 computers, which of the following gives total consumption in the United States after trade?
a. 15 shirts and 20 computers
b. 7.5 shirts and 10 computers
c. 7.5 shirts and 12.5 computers
d. 7.5 shirts and 7.5 computers
Answers
Answer:
c. 7.5 shirts and 12.5 computers
Explanation:
United States have comparative advantage in producing computers while Mexico has comparative advantage in producing shirts. United States have 60 labor hours available which it will use to make computers. It can make total 20 [60 hours / 3 hour per computer] computers. It will trade 7.5 computer for 7.5 shirts then the country will be left with 12.5 computers and 7.5 shirts.
The total consumption in the United States after the trade is 7.5 shirts and 12.5 computers.
The following things should be considered:
The opportunity cost of Producing shirts in Mexico is = 4 ÷ 12 = 0.33. The opportunity cost of Producing shirts in the US = 4 ÷ 3 = 1.33Therefore Mexico should have the comparative advantage in shirts as it contains the lower opportunity cost of producing shirts and the US has the comparative advantage in computers.
Therefore,
US Production of computers = 60 ÷ 3=20 .So, The terms of trade or exchange rate should be 7.5 shirts to 7.5 computers. Thus, the US would trade 7.5 computers and received 7.5 shirts. After the trade, the US will have shirts = 7.5 .So, the Computers = 20 - 7.5 = 12.5Therefore we can conclude that the total consumption in the United States after the trade is 7.5 shirts and 12.5 computers.
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Related Questions
All of the following are true about the post-closing trial balance, except: a.It is prepared after posting the closing entries to prove the equality of the debit and credit balances in the general ledger accounts. b.Only permanent accounts are listed in the post-closing Trial Balance. c.The owner's capital balance listed on the post-closing Trial Balance was updated to reflect revenues, expenses, and drawing for the accounting period. d.It is prepared before the closing process.
Answers
Answer:
All of the following are true about the post-closing trial balance, except:
d.It is prepared before the closing process.
Explanation:
The post-closing trial balance is rather prepared after the closing process. This is the reason it is described as a post-closing trial balance. Only permanent accounts (balance sheet) are listed on the post-closing trial balance. The post-closing trial balance ensures that the capital account is updated with the retained earnings (net income less drawings), as the case may be.
_________ is considered one of the four scarce economic resources.
a
Entrepreneurship
b
Money
c
Time
d
Business planning
Answers
Answer:
a. Entrepreneurship
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
The four factors of production are;
I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.
II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.
IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).
This ultimately implies that, entrepreneurship is considered one of the four scarce economic resources.
An entrepreneur refers to an individual who sees a need or discovers a problem in a society and innovatively proffers a solution using brilliant ideas or entrepreneurial thinking.
In conclusion, the four (4) main characteristics of an entrepreneur are; innovative, risk taker, passionate and self confident.
Answer:
A. Entrepreneurship
Explanation:
Entrepreneurship is considered one of the four scarce economic resources.
Why was agricultural sector declared as critical industry and exempt from the hardest lockdown regulations
Answers
Answer:
Kindly check explanation
Explanation:
Food production and consumption is critical and key to survival, no matter an established and generally accepted number of daily square meal of 3 is widely adopted. This gives a clue tgta, no matter a country's problem or issues they face, aspects which concerns food and generally agriculture would be treated preferentially. Following the outbreak and severe spread of the deadly virus, it became imperative that affected nations introduced critical measures to try and curtail its spread, stringent measures include ; restriction of movement, strict emphasis on social distancing, hence, the need to reduce the number of people on a particular site or work area, travel restrictions, among others. This restrictions had s here effect on the agriculture and the food supply chain and its effect was quickly very noticeable as people would eventually die of hunger if nothing was done. This prompted government to introduce exemptions and preference afforded to the agricultural sector ; such as keppibg trade channels open in other to facilitate food distribution, timely observation and monitoring of food crisis among others.
In team dynamics, process losses are best described as: Question 1 options: resources expended towards team development and maintenance. information lost due to imperfect communication among team members. knowledge lost when tacit knowledge is converted to structural knowledge. productivity losses that occur when individual members need to learn a new task. knowledge lost when a team member leaves the organization.
Answers
Answer:
resources expended towards team development and maintenance.
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective.
This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully.
In team dynamics, process losses are best described as resources expended towards the development and maintenance of a team for increased production and benefits.
Suppose Whirlpool manufactures electric motors for its washing machines. The firm uses a formal vendor rating system to evaluate suppliers and notify those whose parts did not meet quality standards. If a supplier fails to correct the problem, Whirlpool will drop it as a future supplier. Which stage in the organizational buying decision process would Whirlpool make this evaluation
Answers
Answer: Post Purchase Behavior
Explanation:
At the Post-purchase behavior stage, the customer has already bought and received the goods they ordered. They will now assess it to see if it meets their quality standards to see if they can keep the goods and continue to use the vendor or return the goods and look for another.
This is what Whirlpool does here by rating the parts that were purchased and notifying the suppliers of said parts so that they fix things. If they do not, Whirlpool would find another vendor. They are therefore at the post purchase behavior state.
Think of a situation when you received a bad news with direct pattern (without any buffer). How did you react in that situation?
Answers
Answer:
first of all, don't freak out.
stay calm, n think of wat u hv jxt heard. if u can find a solution, do it asap buh if not accept it in good faith
One of the drawbacks of satellites is: Group of answer choices the cost of creating a high quality ad for satellite television. the limited market penetration of satellite television. the number of intermediaries required for satellite service transmission. the government regulations placed on satellite advertising. their ability to span a wide geographical region.
Answers
Answer: their ability to span a wide geographical region.
Explanation:
The ability of satellites to cover a wide geographical area is both a good thing and a bad thing. It is good because it can increase the viewership of an advert. It however can be bad because companies would be unable to customize their ads for various locations.
This means that they would be unable to charge different prices as people in different regions would be able to see prices offered to other regions as well. It also means that the values expressed in the ads in one country could be shown in another country where it might be considered offensive.
The market clearing price occurs at the ________ of the market demand curve and the market supply curve. It is also called the _______ price, the price from which there is no tendency to change in demand or supply
Answers
Answer:
intersection
equilibrium
Explanation:
In the case when the market clearing price arise at the time when the demand curve of the market and the demand curve of the supply intersected with each other. This is we called as the equilibrium price where there is no tendency to varies the demand or supply
Hence, the same is to be relevant
Serge supervises toolmakers who make custom parts for the engineering department before these parts go into production. Deshaun is a self-starter who thrives on solving tough problems, while Duncan prefers straightforward jobs, and doesn't handle stress well. Last week, Serge gave Duncan a difficult, time-sensitive project. Serge recognized that Duncan would handle the project well if he approached him differently than he would if Deshaun was doing the work. Which conceptual anchor of OB knowledge is involved here
Answers
Answer: the contingency anchor
Explanation:
The conceptual anchor of OB knowledge that is involved here is the contingency anchor.
According to the contingency anchor, a particular action may bring about different consequences when it occurs in different situations.
The contingency anchor states that not every solution will be useful in every situation. Since Deshaun is a self-starter who thrives on solving tough problems, while Duncan prefers straightforward jobs but Duncan was given a difficult, time-sensitive project, then Serge recognized that Duncan would handle the project well if he approached him differently than he would if Deshaun was doing the work, this is the contingency anchor.
what is an imaginary line that extend horizontally from east to west in a globe?
Answers
Answer:
The imaginary east-west horizontal lines, which run parallel to the equator, are called Latitudes or Parallels.Answer:
The imaginary horizontal lines running in east-west direction on the Earth's surface are known as Latitudes or parallels of Latitude as they are Parallel to each other.
Explanation:
Vindurem Incorporated has developed a software that would reduce the time taken by manufacturers to identify suppliers of raw materials and distributors of finished goods for a particular region. The company assigns its sales team to call on all potential customers that exist within a two-mile radius of the city's shipping port to market this new software. The company conducts this cold calling for a period of two days. This type of cold canvassing is called
Answers
Answer:
Business phone service
Explanation:
In simple words, Cold canvassing can be defined as the sales technique that involves contacting potential clients in the field with a sales pitch in order to generate new business. It's ideal for businesses like household contractors, who could find it simpler to contact new clients in person rather than through the telephone or over emails.
In the given case, telephone is used to aware target customers hence it is an example of business phone service.
Can someone help me please
Answers
Answer:
1. None of the above
2. Using tools and equipment for safety or maybe it's exit if there's a fire of any emergency concern
3. Computer
Maurice is a cautious investor. He wants to make sure that any financial advice that he pays for is as free of conflicts of interest as possible. Given this objective, Maurice should seek out a financial advisor who provides advice and products based on a ______________________ standard. Group of answer choices contingency. contractual. fiduciary. suitability.
Answers
Answer: fiduciary
Explanation:
Since Maurice is a cautious investor and wants to make sure that any financial advice that he pays for is as free of conflicts of interest as possible, he should then seek out a financial advisor who provides advice and products based on a fiduciary standard.
The fiduciary standard simply states that the interest of the client should be out above the interest of the advisor and the advisor must follow the best course of action for the client regardless of how they're affected by this.
Bharti Airtel is the largest cellular provider in India, with more than 300 million customers as of 2014. It also supplies broadband and telephone services, as well as many other telecommunications services to both domestic and corporate customers. Until a few years ago Airtel did not own its own towers, which was a particular strength of some of its competitors, such as Hutchison Essar. Towers are important if your company wishes to provide wide coverage nationally. In a SWOT analysis, this point would be ________.
Answers
Answer:
a weakness
Explanation:
Industry analysis
This is a method used by company to assess its market position relative to its competitors. Companies do uses the SWOT analysis to assess their performance generally.
SWOT analysis stand for
1. Strengths in SWOT
This is simply regarded as an are areas where the organization has set of skills and resources that would gives them room it to pursue and meet goals efficiently.
2. Weakness in SWOT
This is said to be where the organization is lacking resources and would be prevented from pursuing some goals.
3. Opportunities in SWOT
These are regarded also as conditions that benefits the interest of an organization and would help inachieving its goals.
4. Threats in SWOT
These are also refered to as conditions that would hinder the organization from achieving its goals.
A. Environmental Protection Agency B. Consumer Product Safety Commission C. Food and Drug Administration D. Securities and Exchange Commission E. Federal Trade Commission
Answers
Complete Question:
If a business refuses to comply with a request by the _____, the agency can issue a cease-and-desist order, which gives a final demand to stop an illegal practice.
Group of answer choices.
A. Environmental Protection Agency
B. Consumer Product Safety Commission
C. Food and Drug Administration
D. Securities and Exchange Commission
E. Federal Trade Commission
Answer:
E. Federal Trade Commission
Explanation:
The Federal Trade Commission (FTC) is an agency of the government of the United States of America saddled with the responsibility of promoting consumer protection and the enforcement of all civil antitrust laws.
Basically, the laws formulated or established by the FTC are to provide protection for consumers of various goods and services while requiring that businesses do not make false claims about them.
Furthermore, the consumer protection laws enforceable by the Federal Trade Commission (FTC) guarantees truthful information in the marketplace at all times. This is achieved by requiring that business firms only make claims about their products and services that can be proven.
Hence, if a business refuses to comply with a request by the Federal Trade Commission, the agency is legally empowered by law to issue a cease-and-desist order, serving as a final demand or warning to stop engaging in an illegal practice.
Which of the following is not an example of a liability?
A. A home you own
B. An apartment you rent
C. Student Loans
D. Your phone bill
Answers
Answer:
B
Explanation:
You are renting so you are temporarily living there, unlike a home owner. They own the home meaning they are responsible for the upkeep. Renters that responsability falls upon the land lord.
The option that is not an example of a liability is an apartment that you rent.
What is a liability?
A liability can be described as something that one is responsible for.
The reason why the rented apartment is not a liability is the fact that it is rented. That is you are not in charge of the place.
The maintenance and others lies in the hands of the owner and not in your hands because you do not own the place.
The student loan and phone bill are all expenses that you are responsible for. They are liabilities.
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When using information technologies to collect data for the purpose of monitoring workers, a manager should do all of the following EXCEPT: a) Inform employees when and what is being monitored. b) Consider the privacy rights of individuals. c) Ensure monitoring is meaningful to the organization’s mission. d) Capture qualitative inputs in addition to quantitative data. e) Require workers to complete additional tasks.
Answers
Answer:
When using information technologies to collect data for the purpose of monitoring workers, a manager should do all of the following EXCEPT:
e) Require workers to complete additional tasks.
Explanation:
Keeping employees informed about the monitoring technologies being used and the purpose will engender trust in the relationship of the employer the employees. Every monitoring application and technology must factor in the privacy rights of individuals. For instance, it would be awful to monitor employees when and where they are answering the call of nature. Consideration should be given to the value and meaning of the collected data towards driving the entity's mission.
Sanchez Foods Inc. is a large food manufacturing corporation that earns more profits than its competitors. The company uses only organically grown grains and fruits. It also promotes organic farming and helps nonprofit agencies that focus on food and nutrition causes. The company recently decided to use a third-party recycling logo. In this scenario, Sanchez Foods is most likely to have adopted the practice of _______.
Answers
Answer:
green marketing
Explanation:
From the question we are informed about the Sanchez Foods Inc. which is a large food manufacturing corporation that earns more profits than its competitors. The company uses only organically grown grains and fruits. It also promotes organic farming and helps nonprofit agencies that focus on food and nutrition causes. The company recently decided to use a third-party recycling logo. In this scenario, Sanchez Foods is most likely to have adopted the practice of green marketing.
Green marketing can be regarded as practice of developing as well as advertising products which is been
based on their real as well as their perceived environmental sustainability.
In a case, whereby green marketing activities of a Company are not substantiated from significant investments and doesn't substantiated by operational changes, the company
may be criticized as been using false or misleading advertising.
The provision of a public good generates aAnswers:a. positive externality and the use of a common resource generates a negative externality.b. negative externality, as does the use of a common resource.c. negative externality and the use of a common resource generates a positive externality.d. positive externality, as does the use of a common resource.
Answers
Answer:
I'm not too dire about this
An increase in the price of a good leads to: a decrease in the marginal utility per dollar of that good, and thus a decrease in the quantity purchased. an increase in the marginal utility per dollar of that good, and thus an increase in the quantity purchased. a decrease in the marginal utility per dollar of that good, and an increase in the quantity purchased. an increase in the marginal utility per dollar of that good, and a decrease in the quantity purchased.
Answers
Answer:
a decrease in the marginal utility per dollar of that good, and thus a decrease in the quantity purchased.
Explanation:
In Economics, 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 (ceteris paribus).
According to the law of demand, there exist a negative relationship between the quantity of goods demanded and the price of a good i.e when the prices of goods and services in the market increases or rises: there would be a significant decline or fall in the demand for this goods and services.
This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services. Thus, it refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered.
The marginal utility of goods and services can be defined as the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.
Hence, if a seller increases the price of a good, it would eventually lead to a decrease in its marginal utility per dollar, and thus, leading to a decrease in the quantity of the good that would be purchased by consumers.
For example, if there's an increase in the price of a chocolate cake, the marginal utility per dollar of the chocolate cake decreases and thus, leading to a decrease in the quantity of chocolate cake that would be purchased by the consumers; leading to a downward slope of its demand curve.
identify and explain two advantages to ruby of having part-time employees
Answers
Answer:
Explanation:
make the 4 to 8 and the 8 to 47 by addind
households play a role in the circular flow of goods
Answers
Answer:
purchasing goods at product markets
Explanation:
all three level of professionals are required to run an organization or a business is smoothly classified as a statement
Answers
All three levels of professionals are required to run an organization or a business smoothly. Justify this statement.
Answer:
It is TRUE that All three levels of professionals are required to run an organization or a business smoothly.
The three levels of professional required are:
Top-level management
Middle-level management
Low-level management
Explanation:
Top-Level Management
Top-level managers or professionals are the people that involve in taking an extensive means of actions or decisions for the firm or business as a whole and focus on the long-term success of the business or company. They take up roles such as Chief Operations Officer (COO), ), Chief Financial Officer (CFO), Chief Executive Officer (CEO), etc.
Middle-Level Management
Middle managers or professionals are an essential part of an organization and they are involved in the intermediate management operation whose responsibility involved supervising the lower-level managers to meet the company's goals. For example, they are General managers, branch managers, department managers, etc.
Low-Level Management
Low-level managers or professionals are a core part of organizations, they ensure there is a practical technique and creativity with strong interpersonal skills to maximize particular operational processes to achieve organizational success. For example, they are Office Manager, Shift Supervisor, Store Manager, etc.
Why is the safety of principal the primary consideration in a savings plan?
Answers
Answer:
In simple words, When it comes to conserving money, the most crucial factor to remember is the protection principle. When you save enough money beyond what you'll need for short-term objectives and emergencies, you'll have money to invest. Professionals advise saving one to two years' worth of account value in a contingency savings.
Thus, protecting principal is the core focus of the managers in savings plan.
Which of these is the correct formula to calculate labor cost?
Answers
Answer: labor cost = hourly wage × total work hours
Explanation:
The labor cost refers to the the wage that's paid to an employee and thus can include the employee benefits as well.
With regards to the question, the labor cost will be the hourly wage multiplied by the total work hours. For example of the hourly wage is $15 and the total work hours is 20. Then the labor cost will be 20 × $15 = $300.
Which of the following is true about crime? Group of answer choices When crime occurs in the context of business, no one is "really" injured. Crime undermines the expectations that we all have about living in a civil society. When an insurance company has to pay for a claim arising from a crime, the victim and society at large are injured, but not the insurance company. If the victims of embezzlement do not immediately notice the embezzlement, then they must not "need" the money anyhow, so no real crime has been committed. There are many crimes that are victimless.
Answers
Answer:
Crime undermines the expectations that we all have about living in a civil society.
Explanation:
A store has 100 bathing suits of a certain style that go on sale from April 1 and wants to sell all of them by the end of June. Over each week of the 12-week selling season, they can make a decision to discount the price. They face two decisions: When to reduce the price and by how much? For a major national chain that may carry thousands of products, this can easily result in millions of decisions that store managers have to make. First they shoul collect historical data for similar products, such as the number of units sold, price at each point of sale, starting and ending inventories, and special promotions, newspaper ads, direct marketing ads, and so on, to understand what the results of past decisions achieved. Secondly, sales should be predicted based on pricing decisions. Finally, best set of pricing decisions should be determined to maximize the total revenue. Find which business analytics types used in this research? (descriptive/predictive/prescriptive
Answers
Answer:
Predictive research.
Explanation:
Descriptive research focusses on the characteristics of the data under observation and then research is carried out by keeping those characteristic as main focus.
Predictive research focus on the analytics of the data and statistical figures. It is used in business modelling and data mining.
Prescriptive research is a type of research for problems. This usually focusses on the measures so that problems do not occur again.
Sports Stuff Inc. Herb Graham is vice president of Sports Stuff Inc., a business that develops, manufactures, and markets sports products. The company is looking to expand its operations into the European market. Herb believes that if the company expands its product line to include products reflecting sports that are popular in Europe, the company will achieve success there.
1. Herb knows that much of the success his company enjoys is due to the patents and copyrights that protect the company's products. If Sports Stuff chooses an entry mode in which it grants another firm the right to use its intangible property for a specified period of time, it would be engaging in _____
A) a turnkey project
B) franchising
C) licensing
D) a joint venture
2. Herb has been exploring another type of entry mode that requires ongoing assistance on the part of one firm, often in the form of start-up capital, management training, or location advice. Herb is most likely considering _________
A) a strategic alliance
B) franchising
C) licensing
D) a joint venture
Answers
Nathalie is willing to apply for a car loan. She is 18 years old, still lives at home with her parents and has a part-time job during nights while attending college. In this scenario, a bank's loan officer is most likely to approve the loan in case that Group of answer choices Nathalie maintains a 3.5 GPA. Nathalie signs over her parents car as collateral. Nathalie provides a cosigner on her loan. Nathalie increases her student loan.
Answers
Answer:
Nathalie provides a cosigner on her loan
Explanation:
In the case when an inidvidual co-signs the loan so the individual is become obligated in a legal way to repay the full loan with respect to nathalie when she is not able to pay the amount. Also the loan officer would permitted in that case when the co-signer has the stable kind of job or the source of revenue.
So, nathalie not sign the car of the parent as the collateral as it required the parent consent
So the above should be the answer
Apparels is lndias second largest manufacturer of branded lifestyle apparel the company now plans to diversify into personal care segment by launching perfumes hair care and skin are produced moreover it is planning to open ten exclusive retail outlets in various cities across the in context of the above case
Answers
Answer:
Analyzing the information about Apparels, it is correct to state that the company is developing a strategic business expansion plan, with the aim of opening ten new exclusive retail stores in different cities and expanding its product lines by entering the segment of personal care with perfume lines and hair and skin care products.
Apparels' strategy is advantageous for companies consolidated in the market, which already have a good brand positioning and intend to conquer new market shares with the creation of new product lines. This can increase the company's profitability and market power, but the expansion strategy requires fixed capital capacity and capital management so that the strategies are carried out in accordance with the company's planning and the new costs of opening new stores and production, dissemination and distribution of new products.
