Short answer questions. Answer each in up to 200 words. .
Background Imagine that you work for the World Bank and you have been called to Ghana to aid the new president to come up with a new international trade strategy. . You are told that the new government is interested in moving away from agriculture and into manufacturing. To do so, the government wants to pursue a policy of import substitution industrialization (ISI). . You are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. .
QUESTION B.1 Ghana imports and exports food from and to neighbouring Côte d'Ivoire. The latter nation is very similar to Ghana in most ways. It has a similar environment, a similar level of education, and similar institutional background. Would you argue that trade between the two countries can be explained by comparative advantage? Why or why not? . Ghana also exports food to Switzerland. The latter nation is very different to Ghana in most ways. Would you argue that trade between the two countries can be explained by comparative advantage? Why or why not?
.QUESTION B.2 Explain import substitution industrialisation and how it can affect Ghana. What role does learning by doing play and when does it make sense for the government to interfere?
QUESTION B.3 Ghana’s president’s ISI strategy is to ask Switzerland to adopt a voluntary export restraint (VER). He believes that this is likely to increase Ghanaian welfare. Using two diagrams (one for each country) explain the Ghanaian welfare consequences of this policy.
QUESTION B.4 Explain if the VER is likely to improve the average efficiency of Ghana’s farms? (5 marks) . QUESTION B.5 After a meeting with Ghana’s president, you learn that the government is also interested in repatriating migrants that went to European countries to study engineering a decade ago. Explain how this is likely to change Ghana’s comparative advantage.
Answers
B.1: Comparative advantage is the capability of one country to produce a particular commodity or service at a lower marginal and opportunity cost than other countries. Trade between Ghana and Côte d'Ivoire can be explained by comparative advantage as both countries are identical in most ways.
B.2: Import substitution industrialization (ISI) refers to a trade and economic policy that aims to reduce a country's foreign dependency on imported goods and promote the production of local goods. Ghana can implement ISI to move away from agriculture to manufacturing.
B.3: A voluntary export restraint (VER) is an agreement between two countries to limit the quantity of exports from one country to another.
B.4: The implementation of a voluntary export restraint (VER) is unlikely to improve the average efficiency of Ghana's farms.
They have similar environmental conditions, and institutional backgrounds, and education levels, and both specialize in producing different goods based on their competitive advantage. For instance, Ghana specializes in producing cocoa while Côte d'Ivoire specializes in producing coffee, and they both trade these commodities.
However, trade between Ghana and Switzerland cannot be explained by comparative advantage since Switzerland is different from Ghana in most ways, and they produce similar commodities. Thus, trade between Ghana and Switzerland is based on political and legal factors such as trade agreements and policies.
B.2: Import substitution industrialization (ISI) refers to a trade and economic policy that aims to reduce a country's foreign dependency on imported goods and promote the production of local goods. Ghana can implement ISI to move away from agriculture to manufacturing.
ISI can positively impact Ghana's economy by promoting local industries and creating jobs. Learning by doing plays a significant role in the ISI process since it enables local firms to acquire the necessary technical skills and expertise to produce goods effectively and efficiently. The government may interfere in the ISI process by providing subsidies and incentives to promote local industries and protect them from foreign competition.
B.3: A voluntary export restraint (VER) is an agreement between two countries to limit the quantity of exports from one country to another. Ghana's president's ISI strategy is to ask Switzerland to adopt a VER to increase Ghanaian welfare. The implementation of the VER by Switzerland will lead to an increase in the price of Swiss goods and a decrease in the quantity of goods exported to Ghana.
The effect of this policy on Ghanaian welfare can be illustrated in the graph below:represents the world price of Swiss goods, is the quantity of Swiss goods supplied in the world market, and represents the quantity of Swiss goods imported by Ghana. Ghanaian welfare will increase by area while Swiss welfare will decrease by area :
B.4: The implementation of a voluntary export restraint (VER) is unlikely to improve the average efficiency of Ghana's farms. The VER will lead to a decrease in the quantity of goods imported from Switzerland, leading to an increase in the price of goods in the Ghanaian market.
The increase in price of goods in the Ghanaian market will lead to an increase in the demand for locally produced goods, and this will put pressure on Ghanaian farmers to increase production. However, the increase in production may not lead to an improvement in the average efficiency of Ghana's farms since they may not have access to better technology, machinery, and infrastructure.
B.5: Ghana's comparative advantage is in agriculture, and repatriating migrants that went to European countries to study engineering a decade ago will affect its comparative advantage. The return of these migrants will lead to an increase in the supply of skilled labor and expertise in engineering, which will shift Ghana's comparative advantage from agriculture to engineering.
This shift will lead to a change in the composition of Ghana's exports and imports as the country will start exporting engineering products and importing agricultural products. This change will positively impact Ghana's economy since it will create new job opportunities and diversify the country's sources of income.
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Note- Diagram cant be done.
Related Questions
SSI is designed to provide income to those who have little financial gain and are ______.
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Supplemental Security Income is intended to provide income to persons with little or no financial gain, who are financially needy, or who have limited resources.
Supplemental Security Income (SSI) is a program in the United States that provides financial assistance to individuals who have limited income and resources and are in need of support. It is designed to help those who have little financial gain and face significant financial challenges.
SSI is administered by the Social Security Administration and offers monthly cash benefits to eligible individuals, including elderly people, blind individuals, and people with disabilities. The program considers various factors, such as income, assets, living arrangements, and disability status, to determine eligibility and the amount of benefits provided.
SSI plays a crucial role in ensuring a basic income for those who are financially needy and helps to address their essential needs and living expenses.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
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When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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What type of transactions should be recorded in the Payment, Fee, Withdrawal column
of your check register?
Answers
Cost is 120.37 and selling price is 198.99 what's the markup, percent of the markup on cost, and percent of markup on selling price
Answers
Markup= 78.62
Percentage markup= 65.3 % increase
What are the three main factors addressed in a business plan?.
Answers
Market Analysis.
Market Strategy.
Financial Analysis.
The three major factors addressed in the business plan are Business Ideas, Market Analysis, and Market Strategy. These three comprise the main business plans. Hence all the above statement is appropriate.
What is a Business Plan?Business Plans are the basics of a company which one needs to understand in a much more regular manner. The most important part of the plan is to carefully understand the ways and means a company or an organization is very much closely attached to the process of understanding and carrying on with the process of maintaining the process of the Business.
A Business Plan in simpler terms is the means of a very useful understanding of the things which are always not up to the mark nor does it have a more prosperous or precarious means of making it available and making it more understanding.
A Business plan lays down the plans of the company how to achieve profit and through what means.
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List and describe the three variables that contribute to overall ad effectiveness.
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Answer:
As indicated in your reading in week 6, the overall effectiveness of an ad is a combination of three variables. List and describe these three variables.
Explanation:
a
b
c
Where does an organization's culture often originate from? a. Societal norms and expectations b. Pressure applied through mergers c. With the organization's founder d. Resolution of disputes between rival factions e. Government regulation of the specific industry
Answers
An organization's culture originates from the founder's values and vision, societal norms, mergers, dispute resolutions, and government regulations within the industry. These factors shape the collective beliefs and behaviors that define the organization's culture. The correct option is c.
An organization's culture often originates from a combination of various factors, but one significant influence is the organization's founder. The founder's values, beliefs, and vision shape the initial culture of the organization.
They establish the mission, goals, and principles that guide the organization's behavior and decision-making processes. The founder's leadership style, personality traits, and experiences also play a crucial role in shaping the culture.
Additionally, societal norms and expectations influence an organization's culture.
These norms are derived from broader social, cultural, and ethical values prevalent in the society in which the organization operates. They shape the acceptable behaviors, values, and practices within the organization.
Mergers and acquisitions can also impact an organization's culture. When two organizations combine, they bring together their respective cultures, creating a need for integration.
The resulting culture may be a blend of the pre-existing cultures or a newly established one to align with the merged entity's objectives.
Disputes between rival factions within an organization can contribute to the evolution of its culture. Resolving conflicts and finding common ground often leads to the establishment of shared values and norms.
Government regulations, particularly in regulated industries, can influence an organization's culture. Compliance with legal requirements and industry standards shapes the organization's practices, policies, and values.
In summary, an organization's culture often originates from the founder's vision and values, societal norms and expectations, the impact of mergers, resolution of internal disputes, and government regulations within the industry.
These factors interact and shape the collective beliefs, behaviors, and practices that define an organization's culture.
Hence, the correct option is c. With the organization's founder
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What kind of relationship is displayed in the supply curve?
The supply curve depicts that the Pick one → , Price , Quality or Quantity and supply have a/an
Indirect, Direct or Lagging , relationship.
Answers
Answer:
supply curve, in economics, graphic representation of the relationship between product price and quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis.
Explanation:
The adjusted trial balance for Yondel Company at December 31, 2018 is presented below: Accounts Debit Credit Cash $ 8,000 Prepaid rent 23,000 Land 445,000 Accounts payable $ 12,000 Salaries payable 20,000 Common stock 230,000 Retained earnings 109,000 Dividends 14,000 Service revenue 340,000 Salaries expense 160,000 Rent expense 29,000 Utilities expense 32,000 Totals $ 711,000 $ 711,000 Prepare the closing entries for Yondel Company for the year ended December 31, 2018.
Answers
Answer:
Explanation:
Cash =8000
Prepaid rent = 23,000
Land = 445000
Accounts payable = 12,000
Salaries payable = 20,000
Retained earnings = 109,000
Dividends = 14,000
Service revenue = 340,000
Salaries expenses = 160,0000
Rent expenses = 29,000
Utilities expenses = 32,000
Net income = Service revenue - Salaries-Rent-Utilities-
=340,000-160,000-29,000-32,000 = 119,000
Journal
1. Debit Service revenue - 340,000
Credit income summary - 340,000
2, Debit Income summary - 221,000
Credit Salaries expenses 160,000
Credit Rent expenses 29,000
Credit Utilities expenses 32,000
3 Debit Income summary 119,000
Credit retained earnings 119,000
4 Debit retained earnings 14,000
Credit retained earnings 14,000
Explain the connection between the terms "division of labor" and "specialization".
Answers
Answer:
Division of labor leads to specialization
Explanation:
Division of labor refers to the process of subdividing work into small tasks. In the division of labor, the production process is divided into different stages. Each stage requires a specific task to be performed. Workers are assigned specific tasks depending on skills and abilities.
The division of labor leads to an increase in productivity. Each worker performs a regular task, using familiar tools. In time, the worker becomes an expert in what they do, thereby increasing productivity. Division of labor leads to specialization. When work is subdivided into tasks and assigned to a specific worker, the assigned employee specializes in that task. Specialization is the practice of focusing on a single or very few activities that one is good at doing.
Can anyone help me think of an advertisement for a product I’m selling which is a drone.
Answers
Regardless of the variety of options available, all forms of advertising share two objectives: to influence customers so that they become leads or customers.
How to Influence Customers?
Consumer behavior is influenced by four psychological factors: attitude or set of beliefs, perception, learning, and motivation. Behaving in a manner that offers others the opportunity to change (their behavior, attitudes, thoughts, and ways) and/or accommodate your own wishes is one aspect of influencing skills. However, it is important to recognize that others may be unable to, unwilling to, or unprepared to respond to our request to be influenced. Human behavior is influenced by a variety of factors and characteristics. These are distinctions that are unique to the person with whom you are collaborating. Personality traits.
These are things that affect how a person interacts with other people. Institutional elements. Factors that affect the community and Public policy.
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Hudson has to maintain confidential financial accounts in a workbook. He needs two team members to help him update data in the specified worksheet. He wants to prevent his team from deleting or updating the confidential data in certain cells. Which tab on the Format Cells dialog box will enable him to lock these cells?
A. Cell Pattern
B. Cell Protection
C. Cell Prevent
D. Cell Format
help LOLL
Answers
Answer:
option c
Explanation:
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Answer:
B
Explanation:
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What is the first thing the law requires you to do when you arrive at an intersection? Explain what you should do if there is an officer directing traffic.
Answers
Answer:
If a law enforcement officer if directing traffic where there are traffic lights, OBEY the officer – not the signals. You must yield the right-of-way to all other traffic and pedestrians at stop signs. Move forward only when the road is clear. At four-way signs, the first vehicle to stop should move forward first.
The very first action we do is stop at the junction as if it were a red light and waiting for police to notify you when it is safe to go.
Explanation:
If a police officer directs traffic in an area with traffic signals, respect the officer rather than the signals. At stop signs, you must surrender the right-of-way to all other cars and pedestrians. Only proceed when the road is clear. When approaching a four-way stop, the first car to halt shall proceed first.
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How does globalization benefit U.S. society? How does it hurt us? What can be done to balance the benefits and the liabilities?
Answers
Globalization benefits U.S. society through economic growth, expanded consumer choices, innovation, and job creation. However, it also poses challenges such as job displacement, income inequality, and environmental impact.
To balance the benefits and liabilities, investments in education and skills training, social safety nets, fair trade practices, environmental sustainability, and inclusive social dialogue are necessary. These measures aim to support workers, address income disparities, promote sustainable practices, and ensure a level playing field. By pursuing a comprehensive approach, the United States can harness the advantages of globalization while mitigating its negative impacts, fostering a more inclusive and sustainable society.
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To support the HR department, you have been asked to produce a factsheet, explaining the importance of the factors which need to be considered when planning, designing and delivering a training programme. In your factsheet: a) Explain with examples, why the methods chosen must be appropriate to the staff being trained at various levels in the organisation. b) Explain the importance & implications of factors that should be considered in: • Planning and designing a training programme • Delivering a training programme
Answers
Explanation:
a) The methods chosen for a team that is being trained at various levels of the organization consider the learning needs of the use of a new organizational system, whose objective is to make tasks more dynamic and flexible, therefore aiming to reduce uncertainty and resistance to changes by employees, it is suggested that the new system and its functionalities be presented to all employees who will use it, including a demonstration of the benefits that will be achieved, and the public that will use the system at different levels.
b) The training will include learning from the system with specialists and initial adaptive implementation, so that the change occurs less abruptly and does not impact the work in progress.
It is necessary for a training program to understand its audience, aligning the content and methodology that will be most effective according to the functional area of the company and the needs of the public, thus reducing ineffective and misaligned training costs, making implementation and easier and faster learning, fulfilling the training objectives.
The catapult systems repair crew on an aircraft carrier is responsible for repairing the system that launches the aircraft from the carrier. no two repairs are alike, and because pilots' lives are at stake, quality is imperative. repair personnel often have to develop creative solutions on the spot instead of depending on standard procedures. as a result, the most effective structure for the catapult systems repair crew is a(n) ________ structure.
Answers
Answer: Organic Structure
Explanation: Organic Structure may be explained as a type of organizational structure which often promotes creativity, being proactive and flexible decision making due to the unstable and dynamic nature of the work environment and problem the organization has to solve. In the scenario above, due to the risky nature of the task at hand, catapult repair crews do not posses the luxury of time to follow rigid orders, rules or follow a centralized model of problem solving. Therefore, a decentralized model is often adopted in other to afford the repair crew to use their tactical nous, experience and creative ability to approach, tackle and provide quick and quality solutions to lingering problems.
jack pickle decided to start a small business. his initial investment was $4,000. demonstrate how to record this transaction in the accounting equation.
Answers
If jack pickle decided to start a small business and hi initial investment was $4,000.The accounting equation for jack pickle is: increase Cash by $4,000; Increase J. Pickle, Capital by $4,000.
Accounting equationJack picke accounting equation assuming the initial investment was the amount of $4,000 will be: Cash will increase by the amount of $4,000 while on the other hand J. Pickle, Capital will as well increase by the same amount of $4,000.
Increase Cash by $4,000
Increase J. Pickle, Capital by $4,000
Therefore the accounting equation for jack pickle is: increase Cash by $4,000; Increase J. Pickle, Capital by $4,000.
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which of the following transactions would be included in gdp? multiple choice mary buys a used book for $5 at a garage sale. nick buys $5,000 worth of stock in microsoft. olivia receives a tax refund of $500. peter buys a newly constructed house.
Answers
The transactions included in GDP are Mary buying a used book for $5 at a garage sale, Olivia receiving a tax refund of $500, and Peter buying a newly constructed house.
Transactions that involve current production and contribute to the economy are considered part of GDP.
The transactions that would be included in GDP are Mary buying a used book for $5 at a garage sale, Olivia receiving a tax refund of $500, and Peter buying a newly constructed house.
To determine if a transaction is included in GDP, we need to consider if it involves the production of goods or services within a specific time period. Let's analyze each transaction:
1. Mary buying a used book for $5 at a garage sale: This transaction would not be included in GDP. GDP measures the value of final goods and services produced within a country's borders during a specific time period.
Since the book was previously produced and sold, it is considered a second-hand good and not part of current production.
2. Nick buying $5,000 worth of stock in Microsoft: This transaction would not be included in GDP. Purchasing stocks or financial assets does not directly contribute to the production of goods or services.
It represents a transfer of ownership and does not involve current production.
3. Olivia receiving a tax refund of $500: This transaction would not be included in GDP. A tax refund is considered a transfer payment from the government to an individual.
Transfer payments are not part of current production and are therefore not included in GDP.
4. Peter buying a newly constructed house: This transaction would be included in GDP.
The construction of a new house involves the production of goods (e.g., construction materials, labor) and services (e.g., architectural and engineering services).
The purchase of a newly constructed house is considered an investment and contributes to GDP.
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could someone explain to me what the money market in Italy is, thank you all
Answers
Explanation:
Two main markets comprise the Borsa Italiana: the Mercato Telematico Azionario (MTA), which is the segment for mid- and large-size companies; and the AIM Italia, which was established in 2009 to cater for high growth small and medium enterprises needing more flexibility around the reporting and governance requirements.
What are 3 advantages of a command economy?
Answers
The main three advantages of command economy are listed below:
1. Centralized decision making: In a command economy, all economic decisions are made by the government. This allows for a more centralized and coordinated approach to economic planning, which can be beneficial for achieving specific economic goals, such as increasing industrial production or improving infrastructure.
2. Ability to direct resources towards priority sectors: A command economy allows the government to direct resources towards priority sectors, such as education, healthcare, and infrastructure, without the interference of market forces. This can be beneficial in ensuring that the basic needs of the population are met.
3. Greater control over inflation: Government control over the economy can help to keep inflation in check by controlling the supply of money and regulating the prices of goods and services. This can help to stabilize the economy and promote long-term growth.
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How long do cross-departmental teams work together?
Answers
Answer:
First, department heads should be modeling cross-departmental collaboration by regularly and visibly engaging with each other – and with each other’s teams. If they notice that their department is becoming too isolated or is hesitant to collaborate with others, these leaders should be the first to start building bridges, and not just directing others to do so. Second, you need a mechanism in place to effectively collect employee feedback, in a way that makes employees feel safe from any negative consequences for speaking up.
Explanation:
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Why is Rent to Own a Rip Off?
Answers
Faylene underwent heart surgery that included, among other measures, the implantation of a pacemaker in her chest. Faylene later alleged that the surgeon's negligence resulted in a serious infection. Faylene's insurance company stated that the Uniform Commercial Code (UCC) governed the dispute because at issue was a contract for a pacemaker, which is a good. The hospital responded that the claim was based on a contract for a surgery, which is a service, and was therefore covered by the common law. What result is most likely?
Answers
Answer: The court will apply the predominant purpose test and will probably hold that this was a contract for a service.
Explanation:
Any agreement written in a contract which binds two parties are usually followed strictly. Whatever is written in the contract cannot be changed or influenced in the court room because it would have been believed that both parties went through the contract terms before signing it. Even though one party wants to challenge it in court it would hold no water for a challenge.
The case between Faylene and the hospital was signed in a contract for a peacemaker surgery, the effects of it and being taken to court would yield no effect since it's what Faylene wanted and entered agreement into.
In the united states what is the significance of April 15
Answers
Answer:
Hope it helps
have a good day Ahead
April 15th of the United States is Tax day
Comprehension Que
1. What was the occupation of Husni before he relocated to the city?
Answers
Answer:
Egyptian military and political leader
Linda owns investments that produce portfolio income and Activity A that produces losses. From a tax perspective, Linda will be better off if Activity A is not passive.
a. True
b. False
Answers
a. True. From a tax perspective, Linda will be better off if Activity A is not passive. This is because non-passive losses can be used to offset her portfolio income, potentially reducing her taxable income.
Taxable income refers to the portion of an individual or entity's income that is subject to taxation. It is calculated by subtracting allowable deductions and exemptions from total income.
It's important to consult tax regulations specific to your jurisdiction and seek professional advice from a tax expert or accountant to understand how taxable income is calculated and the deductions, exemptions, and credits applicable to your situation.
Tax laws can vary across countries and change over time, so it's crucial to stay updated with the latest regulations.
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Which step is the most important step in the decision making process?.
Answers
Answer:
The most important step of the decision-making process is: Assessing the possible uncertainties in the future course of action. It is a must for any of the firms to assess or evaluate the possible risks or the uncertainties associated with the firm operation and functioning.
purple corporation purchased $10,000 of merchandise on june 3, subject to the terms, 2/10, n/30. on june 9, it pays for all the merchandise purchased on june 3. purple corporation records discounts using the gross method in a perpetual inventory system. the entry on june 9 will reduce:
Answers
The entry on June 9 will reduce Inventory and cash and also accounts payable.
What is one reason for a perpetual inventory system?The ability to instantly track sales and inventory levels for specific items makes a perpetual inventory system better than the more traditional periodic inventory system and helps to avoid stockouts.
Given,
On 3 June Purchase of $10,000
Terms = 2/10, n/30
Required to pass the necessary journal entry if payment is made on 9 June under the perpetual inventory system.
Date Particulars Debit Credit
3 Jun Inventory $10,000
Accounts Payable $10,000
(Being purchase made on 3 June on credit bases)
9 Jun Accounts Payable $10,000
Cash $9.800
Inventory $200
(Being payment made for purchase on 3 June and cash discount adjusted)
On 9, June purple corporation debits the accounts payable by $10,000, credit the Cash accounts by $9800, and also credit the inventory accounts by $200.
Thus, the mentioned above are necessary journal entries to record the cash discount under the perpetual inventory system.
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QUESTION 2 [25 marks] "Opportunity cost play a significant role
in international trade". Justify the above-mentioned statement
Answers
The statement "Opportunity cost plays a significant role in international trade" is justified by several key factors:
Comparative Advantage: International trade is driven by countries' ability to produce goods and services more efficiently or at a lower opportunity cost compared to other nations. Each country specializes in producing goods that they can produce at a lower opportunity cost, enabling them to maximize their production and trade with other countries. By focusing on their comparative advantage, countries can benefit from trade and improve overall efficiency.
Resource Allocation: Opportunity cost reflects the value of the next best alternative forgone when making a choice. In the context of international trade, countries must allocate their limited resources (such as labor, capital, and natural resources) to produce goods and services. By considering the opportunity cost of using resources for one industry over another, countries can optimize their resource allocation and produce goods where they have a comparative advantage.
Efficiency and Productivity: The concept of opportunity cost encourages countries to specialize in the production of goods and services where they have a comparative advantage. By specializing, countries can achieve economies of scale, improve productivity, and drive down production costs. This leads to increased efficiency in production and enhances the overall competitiveness of countries in the global market.
Market Integration: International trade allows countries to access a larger market beyond their domestic boundaries. By engaging in trade, countries can take advantage of economies of scale, expand their customer base, and increase sales. This increased market integration enables countries to benefit from specialization, exchange, and the mutual exchange of goods and services, leading to higher overall economic welfare.
Economic Growth: International trade promotes economic growth by fostering innovation, technological advancements, and increased productivity. When countries engage in trade, they are exposed to new ideas, technologies, and practices from their trading partners. This leads to learning, adoption of best practices, and overall economic development, which contributes to higher living standards and improved economic growth.
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Find the zeroes of the polynomial of 2√3x^2 - 5x + √3
Answers
