A person has a comparative advantage in an activity whenever he or she can do everything better than anyone else. can perform the activity at a lower opportunity cost than can anyone else. has an absolute advantage in the activity. can do the activity in less time than anyone else.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A person has a comparative advantage in an activity whenever he or she can do everything better than anyone else. can perform the activity ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
In microeconomics, a demand curve in the coordinate system relates the quantity purchased of a certain good, x, to the price of that good, y, as (x, y).
Answers (1)
A company had beginning inventory of 5 units that cost $10 each. During the month, 15 units were purchased for $11 each. The company sold 12 units during the month and had 8 remaining in ending inventory.
Answers (1)
What if the tile work had proceeded as contracted and looked good, but STR refused to pay, saying it didn't meet their personal satisfaction (even though the contract didn't mention this option). Could STR refuse to pay?
Answers (1)
A foreign company whose sales will not affect markson's market offers to buy 2,000 units at $15.35 per unit. in addition to variable manufacturing costs, selling these units would increase fixed overhead by $1,690 for the purchase of special tools.
Answers (1)
We counted the number of people who entered our store across the span of a week in the morning, afternoon, and evening.
Answers (1)
New Questions in Business
A company's adjustment for uncollectible accounts at year-end would include a: A. Credit to Accounts Receivable. B. Debit to Bad Debt Expense. C. Debit to Accounts Receivable. D. Debit to Allowance for Uncollectible Accounts.
Answers (1)
Dermody Snow Removal's cost formula for its vehicle operating cost is $3,000 per month plus $330 per snow-day. For the month of December, the company planned for activity of 24 snow-days, but the actual level of activity was 26 snow-days.
Answers (2)
Which statement applies to the commodities exchange
Answers (1)
Klose outfitters inc. believes that its optimal capital structure consists of 60% common equity and 40% debt, and its tax rate is 40%. klose must raise additional capital to fund its upcoming expansion.
Answers (1)
Suppose a new and more liberal Congress and administration are elected. Their first order of business is to take away the independence of the Federal Reserve System and to force the Fed to greatly expand the money supply.
Answers (1)