In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard.  a. Y=___ potato b. C=___ potato c. I=___ potato d. T=___ potato

Q: 25. What are the four factors of production? a. b. C. d.

A: The four factors of production are: Land – It includes natural resources available for the…

Q: Typed plz and Asap please provide a quality solution take care of plagiarism

A: The question is asking for a successful solution that has been adopted by many countries to address…

Q: Give typing answer with explanation and conclusion  A country can produce 38 quail eggs and 62…

A: Opportunity cost refers to the loss which is incurred when next best alternative is given up. In…

Q: the most important use for cattle in the new world was? a. for Transportation b. for food c. for…

A: The new world is the majority area of the earth that belongs to the Western Hemisphere and is mainly…

Q: If resource prices are fixed and the selling price rises, then   a. profits will increase.   b.…

A: Profits are calculated as: Profit=TR-TCTR=P×Q Where, TR(total revenue) is the amount which the…

Q: Why does the value of output always equal the income received by resources that produced the output?

A: Output – it the total amount of commodities or services produced in a particular time period. It…

Q: Explain the factors within the economic environment affect business?

A: Factors within economic environment that affect business are as follows 1.Market conditions It…

Q: There are two countries Home and Foreign country. Both countries produce Food and Cloth. Food…

A: Given  Food production uses 80 workers and 200 acres  And cloth production uses 40 workers and 40…

Q: What happened to each of the following as a result of drought in Mexico in 1808 -1809?  a.…

A: a. The drought is the situation in which the economy lacks the rain for a long period of time and as…

Q: What is the opportunity cost of moving from point B to point A? A- 4units of computers B- 7 units of…

A: Opportunity cost is the expense of giving up the greatest option while making a given decision. It…

Q: A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu…

A: Costs are the expenses that a business or a firm incurs in its production activities. It is an…

Q: . Which of the following best explains the concept of an absolute advantage? Performing an economic…

A: Absolute advantage refers to the situation where one party can produce the same amount of goods and…

Q: Which of the following is CORRECT? Select one: a. If a firm is technologically efficient, it is…

A: To be efficient, you have to have to bear the cost of the process. What could be a root cause of…

Q: Corn and maize can mean the same thing? True False

A: In the United States, corn is referred to as Maize and is often used interchangeably. But there are…

Q: The Norway spruce trees that are grown in Christmas tree farms are considered? A. Land B. Capital C.…

A: The measure that depicts resources or inputs that are being used in process of production for…

Q: CPT Inc. is a local manufacturer of conveyor systems. Last year, CPT sold over $2 million worth of…

A: Optimum bid value (B) can be calculated by using the following formula.

Q: How does the economy defined the business financially

A: A business is part of the economy, where goods and services are exchanged or sold at a particular…

Q: What is commodity A.something that producers unable to sell to consumers B.A resource that is…

A: A commodity is a basic good used in trade that may be exchanged for similar products. Commodities…

Q: K Tory and Patty produce skis and snowboards. The tables show their production possibilities. Each…

A: The objective of this question is to determine the gains from trade when Tony and Patty specialize…

Q: Which one of the following statements is FALSE? a. Tariffs are taxes charged on imports or exports.…

A: Tariffs and import substitution policies are adopted to support domestic producers in an economy.

Q: Given the following diagram of a production possibilities frontier for a country. Assume that this…

A: The production possibilities frontier (PPF) shows the combination of two goods and services, which…

Q: How much tea is gained at what cost of coffee? a. In moving from U to V b. In moving from W to X c.…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…