The United States has an absolute disadvantage to Spain on wine production. According to David Ricardo, specialization can be more efficient only in the following circumstances:
a. Spain intentionally slows its production.
b. The United States grows its own grapes, thereby reducing transport costs.
c. In this case, specialization will not have an impact on either country.
d. Specialization can lead to more efficient allocation of resources with free trade.
d. Specialization can lead to more efficient allocation of resources with free trade.
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The confirmation step is most likely important because it:
A) assures that the customer cannot back out of the purchase B) reassures buyers that they made the right decision C) means that the salesperson can collect a commission D) leads into the service step of the process E) signals an end to buyer's remorse
A company researches television ratings then sells the information to many firms. This firm conducts ___.
A) custom research B) secondary research C) syndicated research D) case study research E) exploratory research
Ratios that examine profit relative to investment are useful in evaluating the overall effectiveness of
the firm's management. Indicate whether the statement is true or false
Why do you think that the SBA has developed specific “smallness” guidelines? Why do these guidelines vary between types of industries?
What will be an ideal response?