When a country can produce a good more efficiently than another nation this is called _____?

Answers

Answer 1

Absolute advantage occurs whenever one country produces a good more effectively than another.

What is an example of an absolute advantage?

Consider California and Mexico as two nations that produce tequila and wine, respectively. Off to the right, a list of the goods that each country can create is presented. As you can see, California has a clear edge in creating both items because it can produce more of everything.

How is absolute advantage determined?

Low-cost production enables the achievement of an absolute advantage. In other senses, it describes a person, business, or nation that has cheaper production costs. When (in comparison to rivals): Fewer materials are required to make a product, such an advantage is developed.

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Related Questions

How contractionary policies can hamper economic growth?

Answers

The contractionary policies can hamper economic growth if Disposable income decreases. Contractionary policies can reduce disposable income, which can directly impact the economic growth of the country.

There are styles of economic coverage: Contractionary economic policy and expansionary monetary policy. Contractionary monetary coverage is when the government taxes greater than it spends. Expansionary fiscal policy is whilst the authorities spend greater than it taxes.

Contractionary coverage is a financial degree referring both to a reduction in government spending—especially deficit spending—or a discount within the fee of financial enlargement by means of an imperative bank.

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Do CDs have high rates?

Answers

Yes, CDs have higher rate.

CDs have higher rates. This is because you agreed to store your money on a CD for a period of time.

The interest rate and APY you earn will depend on your bank, your CD term, and the current interest rate environment.

High Yield Savings Accounts offer variable interest rates that can go up or down.

CDs offer a fixed interest rate for a fixed period of time. If you're worried about an impending drop, CDs can help protect your money in advance.

Generally, a CD’s interest rate rises as the term increases. However, that also means you won’t have access to the money for a longer period of time.

However, even at lower levels a bank or other financial institution may offer you a higher CD interest rate depending on your deposit amount.

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what do you use to find state specific information

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To find state-specific information, an individual can choose to use government portals or legal websites of the state that they desire information on.

What is state-specific information?

State-specific information refers to information about governmental legislation in the desired state. It is known as being state-specific because the information is unique to that very state. Many states have dos and don'ts that are limited to them.

To get these, one can choose to use the information from a government portal. These are often in the form of a .gov domain. Reputable legal websites that are in the territory of the state might also have reliable information on the state's regulations.

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example of risk control

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after discovering that a chemical used in manufacturing a company's goods is dangerous for the workers, a factory owner finds a safe substitute chemical to protect the workers' health.

What are most likely reasons a US corporation would open a factory in China choose four?

Answers

A US corporation would open a factory in China in order to

to take advantage of affordable land pricesto take advantage of abundant resourcesto take advantage of lower labor coststo take advantage of favorable tax laws

A corporation is a business entity this is owned by means of its shareholder(s), who decide on a board of administrators to supervise the company's sports. The agency is responsible for the moves and price range of the enterprise – the shareholders aren't.

Organizations seek advice from a selected shape and established order of a company as a felony entity this becomes independent from character proprietors. agencies carry out the primary capabilities of a business enterprise, together with imparting and selling items and services and frequently operate on a larger scale.

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As many as 83.1 percent of respondents supported the WHO's investigation into the origin of the virus in the U.S. The eyes of the people are sharp.

Answers

Up to 83.1% of respondents supported the WHO investigation into the virus's origin in the United States. According to the CGTN Think Tank's online survey report, 80% of global netizens who participated in the survey believe the virus originated in China.

What is the virus's origin?

According to a published study, the world's first known case of virus was a saleswoman who worked at an animal market in the Chinese city of Wuhan, not an accountant who lived miles away and appeared to have some connection with the location.

The report reignited the ongoing debate over the virus's origins, which remains unresolved. The search for the pandemic's origin point has contributed to speculation that the virus may have leaked from a Chinese laboratory, raising tensions between the United States and China.

We can conclude from this information that the world's first known case of virus was a saleswoman who worked at an animal market in the Chinese city of Wuhan.

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Complete question

many as 83.1 percent of respondents supported the WHO's investigation into the origin of the virus in the U.S. True or false?

What is the role of comparative advantage in international trade?

Answers

In order to understand why businesses, nations, or people can profit from trade, comparative advantage is employed. Comparative advantage, when used to explain international commerce, refers to the goods that a country can manufacture more readily or more affordably than other nations.

Therefore, buyers abroad find domestic items to be so alluring and competitive that they are prepared to pay a rising price. Therefore, if an economy is successful in selling its goods on the global market without the Terms of Trade degrading, it may be said to be globally competitive.

Countries and people have varied production costs, or to put it another way, diverse capacities for generating commodities. They can benefit from their differences to improve their own circumstances.

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How can having a savings account contribute to a person's overall financial well-being?

Answers

A savings account provides security to anticipate the unexpected, allows you to invest when opportunities arise, and provides funds to fulfill your dreams of giving something back to you and your community. By doing so, you can contribute to your overall financial well-being.

What are good reasons to keep money in a savings account?

Savings accounts are insured by the Federal Deposit Insurance Corporation up to $250,000, so your money is protected. A savings account makes money more accessible than other ways of saving. A savings account does not help build wealth. It can also lose purchasing power over time due to inflation

What are the benefits and drawbacks of a savings plan? Advantages of a savings account are the potential to earn interest, ease of opening and access, and FDIC insurance and security. Drawbacks to savings accounts are minimum balance requirements, lower interest rates than other accounts/investments, and federal restrictions on withdrawals of savings.

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What do the 9th and 10th amendments say?

Answers

Answer:

The Tenth Amendment says that the Federal Government only has those powers delegated in the Constitution. If it isn't listed, it belongs to the states or to the people

Explanation:

The Ninth Amendment was part of the Bill of Rights that was added to the Constitution on December 15, 1791. It says that all the rights not listed in the Constitution belong to the people, not the government. In other words, the rights of the people are not limited to just the rights listed in the Constitution.

In a visualization regarding the cost composition of your company’s five products, you can see the percentage of direct materials, direct labor and overhead percentages to total costs per unit. Based on this information, please answer the following questions.
1. The workers’ union is negotiating an increase in an hourly wage and an increase in health insurance coverage. If agreed by the management team, which product is more likely to be affected?

2. Assume that your company always uses the following formula to determine the markup: “direct labor to total costs percentage * 50%”. Does this make sense to you? What is the potential problem?

Answers

Trade unions maintain and improve workers' terms and conditions through bargaining with employers.

What are the management decisions ?

Workers organized in trade unions benefit from higher wages—the so-called union wage premium. Union bargaining also results in a fringe benefits premium for covered workers. Trade unions reduce wage inequality.

The gross profit of a unit, which is its sales price less its cost to produce or acquire for resale, is divided by the unit's cost to determine the markup %. The markup percentage, which is computed as (12 - 8) / 8, is 50% for an item that costs the business $8 to produce but is priced at $12.

Hence

(a) Product  IN 600 and XA - 001 will be affected regarding decision of the the union .

(b) Company is using wrong method for computing Mark up that is senseless .

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How does excise tax affect consumers and producers?

Answers

The relative effect on shoppers and dealers is referred to as the prevalence of the tax. There are two main monetary consequences of a tax a fall in the quantity traded and a diversion of revenue to the authorities. A tax causes client surplus and manufacturer surplus (profit) to fall.

whilst demand takes place to be rate inelastic and supply is price elastic, most of the people of the tax burden fall upon the patron. in the graph above, the entire tax paid by way of the manufacturer and the customer is identical to P0 – P2.

Likewise, a tax on customers will in the long run lower the amount demanded and reduce manufacturer surplus. that is due to the fact the monetary tax prevalence, or who simply will pay in the new equilibrium for the occurrence of the tax, is based totally on how the marketplace responds to the rate exchange not on felony occurrence.

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Is 700 establishing mutual aid agreements to obtain resources from neighboring jurisdictions is an example of which resource management activity?

Answers

The development of mutual aid agreements to obtain resources from nearby jurisdictions is an illustration of a management activity for planning for resources.

What is mutual aid agreements?

Mutual aid agreements give two or more entities the legal foundation for resource sharing. Mutual aid agreements may allow for the provision of assistance between nations, states, federal agencies, or two or more local communities. A written understanding between two or more organisations known as a "mutual aid agreement" stipulates that, upon request, the resources, personnel, and facilities of one department or departments will be made available to the other department or departments.

What is the purpose of mutual aid?

Mutual aid is an idea and a strategy built on the principles of cooperation, direct action, understanding, and solidarity. Mutual assistance is not charitable giving; rather, it is the development and upkeep of new social networks where people can give what they can and receive what they need without being subjected to oppressive political structures.

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Who benefits if inflation is high?

Answers

Answer:

Generally, those who benefit from high inflation are people who have borrowed money (debtors) or who have fixed incomes, such as pensioners and those on welfare benefits. Debtors benefit because they can pay back their loans with cheaper money than they borrowed. Those on fixed incomes benefit because their income goes further in buying power.

Explanation:

This technology serves to change the ethical and moral behavior of businesses today:

A. Cloud Computing
B. Cyber-security
C. Server Farms
D. Social media

Answers

It ensures seamless connectivity between computers and devices linked via cloud computing by employing software known as middleware. In most cases, cloud computing service providers keep multiple copies of the data to prevent security risks like data loss, data breach, and so on.

Which phrase refers to cloud computing?

Software-as-a-service (SaaS) for web-based applications, infrastructure-as-a-service (IaaS) for Internet-based access to storage and computing power, and platform-as-a-service (PaaS) that provides developers with the tools they need to build and host Web sites are the three main types of cloud computing, with more emerging.

What drawbacks does cloud computing have?

The downtime caused by internet system service outages is one of the most significant drawbacks of cloud computing. Another drawback is that, despite the fact that security standards are upheld in cloud computing, storing your data with external service providers puts it at risk.

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In a perfectly competitive resource market the Marginal Revenue Product Curve is

A. HORIZONTAL (WRONG)

B. VERTICAL

C. DOWNWARD-SLOPING

D. UPWARD-SLOPING

Answers

In a perfectly competitive resource market, the Marginal Revenue Product Curve is downward sloping. The Option C is correct.

What is the marginal revenue curve in perfect competition?

The marginal revenue curve is a curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold.

As a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. It also maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.

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types of collective bargaining

Answers

Composite bargaining, granted bargaining, egalitarian bargaining, integrating negotiating, and efficiency negotiations are the five primary categories of collective bargaining.

What serves as a means for provision?

A provision is cash saved in the funds to cover any liabilities that may arise in the future. To improve the accuracy of something like the current year's balance, a provision is utilized to allow for costs that could, in some cases, be offset with in current or prior financial year.

Which preparations are required?

A "business make better term" lease clause stipulates that the tenant must return the doors to the home in the same condition that they found it.

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a monopolistically competitive firm has a downward-sloping demand curve for its product, primarily because:

Answers

Answer:

interested in sex?????

What is a unique characteristic of an exponential model?

Answers

The output values are positive for all values of x.

What does an exponential model show?

The curve of an exponential function is produced by an exponential growth pattern of data, which shows increasing rises with time.

Think about a population of mice that grows by a factor of two each year, from 2 in the first year to 4 in the second, 8 in the third, 16 in the fourth, and so on. In this illustration, the population growth is a factor of 2. Instead, if mice had four pups, you would have 4, 16, 64, and 256.

Contrast exponential growth, which is multiplicative, with linear growth, which is additive, and geometric growth (which is raised to a power).

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What is the warmth of the sun

Answers

"The Warmth of the Sun" is a tune written with the aid of using Brian Wilson and Mike Love for the American rock band The Beach Boys.

The required details for "The Warmth of the Sun" in given paragraph

It turned into launched on their 1964 album Shut Down Volume 2 and because the B-aspect of the "Dance, Dance, Dance" single, which charted at quantity 8 within side the United States and quantity twenty-4 within side the United Kingdom. Brian Wilson produced the tune, and the relaxation of the album.  Wilson and Love commenced composing the tune on November 22, 1963, the day of the assassination of John F. Kennedy, even though the 2 co-authors provide one of a kind debts of the timing and whether or not it turned into all started earlier than or after the killing. The next recording of the tune turned into knowledgeable with the aid of using the emotional surprise felt with the aid of using its authors within side the wake of Kennedy's death. "The Warmth of the Sun" turned into began out within side the early morning hours of the equal morning that President Kennedy turned into killed in Dallas. The melody turned into so haunting, sad, melancholy, that the simplest factor that I ought to think about lyrically turned into the lack of love, while hobby slips and emotions are not reciprocated…eleven though I desired to have a silver lining on that cumulus nimbus cloud so I wrote the lyrics from the angle of, "Yes, matters have modified and love is now not there, however the reminiscence of it lingers just like the warm temperature of the sun."

I assume it is clearly impactful and memorable…one in all my favored songs from an emotional and private factor of view.

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What are the types of resource management?

Answers

There are six different types of resource management: (1) Forest resource management, (2) Water resource management, (3) Mineral resource management, (4) Energy resource management, (5) Wildlife resource management.

What Is Resource Management?

Resource management practises include scheduling, allocating personnel, funds, and technological resources to a project or programme. In essence, it involves allocating resources to maximise organisational value. When resources are managed effectively, the appropriate resources are made accessible at the appropriate time for the appropriate work.

Resource management is crucial for businesses to guarantee that they are maximising and allocating resources to the activities that are most valuable and in line with company strategy. The enterprise is in a better position to quickly respond to customer demands and be adaptable to change by minimising waste and duplication, streamlining and automating processes, and maximising and speeding throughput. Delivery of programmes and projects calls for improved resource management.

Why Is Resource Management Important?

Transparency is key to resource management because it allows you to observe, track, and collect the resources needed to complete projects. Additionally, it enables you to reduce resource overuse and idle time. You can better plan, schedule, and manage your resources to ensure that they are allocated to the right projects at the right times if you have complete visibility over both the work and the resources. Understanding the drawbacks of not having resource management makes it simple to recognise how important it is. Resource managers have little control over their projects without the proper data.

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What are 4 benefits of saving?

Answers

Answer:

1. Financial Security: Saving money can help you build a safety net for unexpected expenses or a loss of income.

2. Investment Opportunities: A savings account can allow you to invest in various potential income-generating investments.

3. Tax Advantages: Many savings accounts, such as 401(k)s and IRAs, offer tax advantages.

4. Achieving Financial Goals: Saving money can help you reach your short-term and long-term goals, such as buying a house, starting a business, or saving for retirement.

Explanation:

What are the 4 stages of the business cycle?

Answers

The four stages of the cycle are expansion, peak, contraction, and trough.

The variations of the economy between times of expansion (growth) and contraction are referred to as the "economic cycle" (recession). The present stage of the economic cycle can be determined using variables like gross domestic product (GDP), interest rates, total employment, and consumer expenditure. Given that it directly affects everything from stocks and bonds to profits and corporate earnings, understanding the economic cycle can assist firms and investors decide whether to invest and when to withdraw their funds.

The stage of the economic cycle we are in at the moment can be determined by variables like GDP, interest rates, total employment, and consumer spending.

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What are the reasons why do we need to save money give at least three?

Answers

the three reasons why do we need to save money:

Financial independence.

Living debt-free.

Unforeseen expenses.

Finance is the study and subject of money, currency and capital assets. it is related to, but no longer synonymous with economics, the take a look at of manufacturing, distribution, and consumption of money, belongings, items and offerings (the subject of monetary economics bridges the two). Finance sports take place in economic systems at various scopes, as a consequence the field may be more or less divided into private, company, and public finance.

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4. Find an example of a print or Internet ad that includes images and text, and then answer
the following questions about it.
a. Describe the ad. (1-3 sentences. 1.0 points)

Answers

Pizza Hut is an example of a print or Internet ad that includes graphics and text.

What are print and online advertising?

Flyers, magazines, newspapers, and direct mail are examples of print advertisements. Pay-per-click, banner, and social media commercials are examples of online advertisements. Clearly, the two are very dissimilar. While online advertisers frequently charge users for each ad click, a single print advertisement might reach hundreds of customers.

Pizza Hut is a a brand that spent in premium advertising units and advertised on over 250 different media properties across numerous media forms in the previous year. Regarding Gorbachev and Russia, a Pizza Hut commercial. Gorbachev's popularity outside of Russia was also a theme in the advertisement. The advertisement implied that capitalism was better than communism because it made Pizza Hut possible.

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When excise tax is imposed on the supplier of a product by the government what effect will this have on supply curve?

Answers

When excise tax is imposed on the supplier of a product by the government the supply curve would decrease implying that the supply curve would shift to the left.

Tax is a mandatory financial charge or other tax imposed by a government entity on taxpayers to finance government spending and other government expenditures, and tax compliance refers to individual policy and behavioral actions to ensure that taxpayers pay the correct amount of tax. at the right time and enjoy appropriate preferential and tax reduction policies.

Taxes can be direct or indirect and they can be paid in cash or equivalent labor. Some tax individual income annually at a fixed rate, but most scale taxes are progressive according to the annual income bracket. Most countries tax personal income as well as corporate income tax.

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What lies is at the heart of the allocation of goods and services in a free-market economy?

Answers

The notion that lies at the heart of the allocation of goods and services in a free-market economy is the Law of Supply and Demand.

How are resources allocated in the free market?

In the free market, people are free to supply and demand various types of goods ( so long as they are legal ) which allows for resources to be allocated such that those demands are met.

The way that these resources are allocated is that there is an interaction between those who are able to supply goods, and those who demand those goods, based on the prices that the people selling and buying are willing to accept, or pay.

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What is the US government's aim in taxing imported goods?

Answers

The US government's aim in taxing imported goods is to protect domestic businesses.

A government is the system or group of people in charge of running an officially formed society, usually a state. Government, in its widest definition, comprises of the legislative, executive, and judicial branches. Government serves as both a vehicle for executing organizational policies and a mechanism for policy formulation.

Many countries have a constitution, which is a statement of their guiding beliefs and philosophy. While governance exists in a variety of organizations, the word "government" is most commonly used to refer to the roughly 200 sovereign national governments and subsidiary organizations.

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What were the effects of Roosevelt's big stick diplomacy?

Answers

Roosevelt was successful in keeping the United States out of wars by threatening legitimately with force under his "big stick" strategy, also known as Roosevelt Corollary.

What was the Roosevelt Corollary's principal effect?

The corollary said that not only were the countries of the Western Hemisphere closed to colonization by European powers, but that it was the United States' duty to uphold law.

When was big stick diplomacy used?

The Roosevelt Corollary to the Monroe Doctrine is the name given to President Theodore Roosevelt's forceful attitude to the countries of Latin America and the Caribbean. This strategy has frequently been referred to as the "Big Stick."

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What is the best thing to do when expenses exceed revenue?

Answers

When expenses exceed profits, 3 alternatives are endorsed: growth earnings, lessen fees, or a combination of the 2. To apprehend wherein your cash goes and to discover methods to reduce, don't forget to track your costs for a month or.

Fees and fees are similar ideas, and they're now and again used interchangeably, however, there are some differences for organizations to don't forget. A value generally refers back to the charge paid to gather an asset, at the same time a cost is an ongoing fee, which includes a worker's earnings or hires in a retail area.

An expense is typically recognized while a related sale is identified or while the object in the query has no destiny application. An expenditure is usually diagnosed either whilst cash is paid out or legal responsibility is incurred.

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what are the effects of rising prices

Answers

The main cost of inflation seems to be the erosion of real income, which occurs when prices rise unevenly and causes some customers' purchasing power to decline.

How long will high prices last?

The consensus among economists and financial professionals is that higher prices will probably continue into next year, if its not longer. And as a result, Americans will likely continue to suffer from rising prices for some time to come.

Why do you use the word prices?

The sum of money supplied or established as payment for the sell of a certain good; the volume of one good required in exchange for another in barter or in a sale; or the price paid for anything. Increased consumer demand and labor shortages have only made this issue worse. Prices are rising as a result of the shortage of some commodities and the rising cost of shipping.

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