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Why does it make sense to trade with other nations?
A nation will produce what it can produce most efficiently and effectively and buy from other nations what they can produce most efficiently and effectively.
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
Which of these is used to produce goods for people to buy?
resources...
Why is ppc convex to origin?
because all factors of production cannot be equally efficiently be used to produce one product than the other...
What is an example of capital goods and how are they essential for businesses to produce goods and services efficiently?
An example of capital goods is machinery used in a factory. These goods are essential for businesses to produce goods and services efficiently because they help automate processes, increase productivity, and improve the quality of products. This ultimately leads to cost savings and higher profits for the business.
Why does it make sense to trade with other nations?
A nation will produce what it can produce most efficiently and effectively and buy from other nations what they can produce most efficiently and effectively.
Advantages of bilateral trade?
a nation should produce and sell goods to other countries that it produces most efficiently and buy goods produced more efficiently by other countries
Which of these is used to produce goods for people to buy?
resources...
How do nations benefit from producing goods and services they have a comparative advantage in supplying?
They benefit by using the money they earn to buy goods and services they cannot produce as efficiently.
Which type of organism is used is used to produce enzymes used in home and industry?
Microorganisms, such as bacteria and fungi, are commonly used to produce enzymes for use in home and industry. These organisms are chosen for their ability to efficiently produce specific enzymes through biotechnological processes like fermentation.
What does the mitochondria require to produce energy efficiently?
Mitochondria require oxygen and nutrients, such as glucose and fatty acids, to produce energy efficiently through a process called cellular respiration.
Why is ppc convex to origin?
because all factors of production cannot be equally efficiently be used to produce one product than the other...
What variance is best for measuring operating performance?
Efficiency variance can be a good metric because it measures how efficiently inputs were used to produce output.
What are capitalized goods?
CAPITAL GOODS include machinery and tools which are used to produce other products for consumption.They are also refferd as 'means of production' or producers' goods!Capital goods are used to produce other goods and services more efficiently
What types of products do manufacturers buy?
Manufacturers --Manufacturers produce products to be sold at a profit. They buy products and services that are directly used in the products they produce or are consumed in the general operations of the firm.
What is the term used to describe the ability to produce a specific product more efficiently than any other nation?
Absolute Advantage
Why did they use chopsticks?
People used chopsticks because they were easy and cheap to produce and buy.
