The opportunity cost of manufacturing televisions is lower in country a.Opportunity cost, which is the gain a person, business, or government will have to forfeit when they pick one choice over another, is essential to the notion of comparative advantage.
Comparative advantage in economics refers to the ability of a nation to generate goods or services at a lower opportunity cost than rivals.In his work "The Principles of Political Economy and Taxation," David Ricardo introduced the concept of comparative advantage (1817). If country a has a lower opportunity cost for producing televisions than country b, then country a has a comparative advantage over b in the production of television.Even if another country has an absolute advantage in producing all items, a country with a comparative advantage can create a good at a lower opportunity cost. Say, for illustration, that a nation could only create three different kinds of goods.X, Y, and Z are the products.
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Answer: Enterprise Resource Planning (ERP)
Explanation:
Enterprise Resource Planning (ERP) is defined as the strategy software through which operation of business are managed and processed.It uses integrated applications in system for carrying out and handling business functions.
It helps in reduction in human labor for gathering information and data by creating centralized business database for making efficient decision. Advantages of ERP are providing technological services,easy work-flow, handling core functions of business etc.
Answer:
lawyer's computer.
Explanation:
For the economist a stock is capital that can earn income or good that person holds and can sold for a particular price.
In this case the lawyer's computer is a good that the lawyer owns and can be exchanged for money. Also the lawyer can use the computer to help treat court cases thereby earning income.
There are several ways to earn money and start building job experience while in college. One of the most common is an internship, where you work at a company under supervision of a mentor/intern coordinator, get paid, and often earn college credit. Another way would be to look for a part time or entry-level job in the field you are studying. Many college campuses have a career resource office designed to help students search for and gain relevant employment.
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