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Who warned Jefferson Davis that the lower Mississippi was important to the existence of the Confederacy?
Robert E. Lee
Why were English criminals brought tot the American colonies?
they provided labor at a lower cost than slaves
Why were English criminal brought to the American colonies?
they provided labor at a lower cost than slaves
What was colonial manufacturing?
Colonial manufacturing refers to goods produced in colonies. Many European colonies in the East were used as sites of manufacturing because the labor costs were lower in these countries.
When was luten fc started?
Luten FC was founded in 1885. The club has a long history in English football, primarily competing in the lower divisions and experiencing various promotions and relegations throughout its existence. It has developed a loyal fan base and has become an integral part of the community in Luton, Bedfordshire.
Which describes comparative advantage?
Existence of lower opportunity cost then competitors
Define opportunity cost and explain its relationship to comparative advantage?
Opportunity costs is the highest valued alternative that must be given up to engage in an activity. Comparative advantage is the ability of an individual, a firm, or an country to produce a good or service at a lower opportunity cost than competitors.
During the 1920s Americans were producing and selling products at lower costs then their foreign competitors?
True
During the 1920s Americans were producing and selling products at lower costs than their foreign competitors.?
trueYes, during the 1920's Americans were producing and selling products at a lower cost than their foreign competitors.
What is Comparative advantages?
A country has comparative advantage if it can produce a good for less cost than any other nation. (study island)A comparative advantage is the condition that exists when someone can produce a good or service at a lower opportunity cost than someone else.
Why competitors important for any organization?
the principal sources of competitive advantage are lower costs of production and a differentiated product offering.
After you set a price for your product you discover that your competitors are selling the same thing at a significantly lower price. One reasonable option you have is to?
The best to do in this case is to find a way to cut costs. This may mean buying from a different source, or lowering over head costs.
What is objective of benchmarking?
Determine whether a company is performing particular value chain activities efficiently Understand the best practices in performing an activity Assess if costs are in line with competitors Learn how lower costs are achieved Take action to improve cost competitiveness.
What is one country of comparative advantage in the production of a certain good?
It has a lower opportunity cost for production of that good.
How does the concept of comparative advantage, which is based on opportunity costs, influence decision-making in international trade?
The concept of comparative advantage, which considers the opportunity costs of producing goods, affects decision-making in international trade by guiding countries to specialize in producing goods they can make most efficiently. This leads to increased efficiency, lower costs, and greater overall benefits for all countries involved in trade.
What economic term refers to the situation where one country can manufacture and port automobiles at a lower cost than its competitors?
The economic term that describes this situation is "comparative advantage." A country has a comparative advantage in producing a good, such as automobiles, when it can produce that good at a lower opportunity cost than its competitors. This concept suggests that countries should specialize in the production of goods where they have a comparative advantage, leading to more efficient global trade.
What are the advantages of health tourism?
Benefits of health tourism include: # Lower costs # Higher quality healthcare # No wait lines - receive immediate care # Advanced technology and facilities # Travel opportunity
