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What determines the production of a good that a country should specialize in and trade out?
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If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
What does a production possibilities curve how?
production possibilities curve is a graphical representation of alternative combinations of amounts of two goods/services that economy can produce by transferring resources from one good/service to the other.
What determines which goods a country should produce or export?
1.historical links / relations with acertain target countries
Why do firms want to know their average total cost?
Average total cost determines how much profit or loss a firm will make at a certain output and price. It also determines is a firm should shut down, temporarily stopping production (not covering variable costs) but keeping the business (covering fixed costs), or if it should exit the market (not covering variable or fixed costs).
Mixed-market economic system who determines what products should be produced and how they should be produced?
Producers. A+
If a country has comparative advantage in the production of all goods should it trade?
Yes, since each country can individually specialize in its comparative advantage, the total income for both countries will increase. This is even true if one country has an absolute advantage in the production of all goods.
What does the company LORA specialize in?
LORA is a company that determines if an item should be replaced, discarded, or repaired. This is determined if the item is cheaper to be repaired or replaced.
How does production possibilities illustrates how efficient an economy is?
It shows how much Labor(hrs) a country uses to produce a certain combination of goods. That is one judge of efficiency. A ppf shows what good a country can produce more efficiently (less Labor) and it can be compared to Another Country to see which country should specialize in which good.
What does a production possibilities curve how?
production possibilities curve is a graphical representation of alternative combinations of amounts of two goods/services that economy can produce by transferring resources from one good/service to the other.
People who study the weather are known as?
for future food production we need to predict weather which will determines what types of crops should we plough
Which 50 inch plasma TV should I buy?
Look for companies that specialize in plasma TV production for the best quality. Panasonic, Hitachi, and Pioneer are all companies in Japan that specialize in this area. The best deals can usually be found early December, and throughout the year on many electronics websites such as Newegg.com.
What determines which goods a country should produce or export?
1.historical links / relations with acertain target countries
When should front struts be replaced?
If you treat your car well at 180K miles or never depending on country of production and year.
What age should one start planning their 401k retirement plan?
A person retirement age determines when and how a person can access a persons retirement money. Retirement age rules vary from plan to plan and from country to country.
Why do firms want to know their average total cost?
Average total cost determines how much profit or loss a firm will make at a certain output and price. It also determines is a firm should shut down, temporarily stopping production (not covering variable costs) but keeping the business (covering fixed costs), or if it should exit the market (not covering variable or fixed costs).
Does The firewall determines if network traffic should continue on to its destination or be stopped?
The firewall determines if network traffic should continue on to its destination or be stopped.True (Correct!)False
Marx believed that the should completely control production?
The people should control production and distribution. Production should take place to meet human need.
