Answer:
Answer Illustration : Opportunity Cost of producing Wine is lesser in France, Opportunity Cost of producing Sweaters is lesser in Tunisia. So, France has comparative advantage in Wine, Tunisia in Sweater.
Explanation:
Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.
Opportunity Cost of producing Sweaters & Wine in France & Tunisia are quantities of other goods (Sweaters or Tunias) sacrifised while choosing either. Sweater Opportunity Cost - Wines sacrifised, Wine Opportunity Cost - Sweaters sacrifised.
The country has a comparative advantage in a good if it can produce it with relatively less opportunity cost (in terms of other good sacrifised) than other country.
Ex : Production Possibilities
Wine Sweater Trade off (Wine :Sweater)
France 10 5 1:0.5 or 2:1
Tunisia 8 24 1:3 or 0.33:1
- France produces Wine with lesser opportunity cost (sweater sacrifised) than Tunisia [0.5 sweater < 3 sweaters] ; it has comparative advantage in Wine.
- Tunisia produces Sweater with less opportunity cost (wine sacrifised) than France [ 0.33 wine < 2 wines] ; it has comparative advantage in Tunisia
I think the correct answer from the choices listed above is the last option. H<span>e earns a salary from his work, interest on his savings account, and dividends on his stock holdings. Hope this answers the question. Have a nice day.</span>
<span>I'd call the non-emergency police number and ask them to drive by and see what was up when they had a free minute</span>
Answer:
a. have performance attributes that are difficult to ascertain at the moment of purchase
Explanation:
In case of an experience good, it is difficult to make predictions regarding its price and quality.
The reputation of a seller and word of mouth are the important things that customers can use to make decisions regarding purchasing of the product.
Experience goods are those which have performance attributes that are difficult to ascertain at the moment of purchase
The difference is in point <span>3. Architecture involves the design process, considering the function and safety of the project.
The architectural designers only need to put their mind on the angle of the building, the aesthetic theme of the building and the functional factors of the building and their role is finished as soon as the building process begins.
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