What are the differences between absolute advantage and comparative advantage? Absolute advantage and comparative advantage are two basic concepts to international trade and perhaps two most important concepts in international trade theory. Under absolute advantage‚ one country can produce more output per unit of productive input than another. With comparative advantage‚ if one country has an absolute (dis)advantage in every type of output‚ the other might benefit from specializing in and exporting
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What is the difference between competitive advantage and comparative advantage? Answer: An advantage that a firm has over its competitors‚ that differentiates the Product or services offered by the firm and allows the firm to reduce it’s Cost or generate Higher Revenue or Margin is known as Competitive Advantage. A competitive advantage is something that a consumer views in a product or service as having higher value than the other competitors of the firm in the industry. It is an expertise that
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Q Alternate Dispute Resolution (ADR) offers all the advantages of the federal judicial system and then some. Along with fixed rules and the possibility of appeal‚ it allows for speed‚ confidentiality‚ cost efficiency‚ customized resolutions‚ and enforceability. These make ADR a good arbitration option for a whole range of complex commercial cases like securities‚ professional malpractice‚ patent litigation‚ personal injury litigation and bankruptcy mediation. Bankruptcy mediation works for
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10th February 2014 Discuss the advantages and disadvantages of the first past the post electoral system The UK electoral system is run by the First Past the Post system‚ voting takes place in single-member constituencies. Voters put a cross in a box next to their favoured candidate and the candidate with the most votes in the constituency wins. The advantages of using a First Past the Post system are as follows: Firstly‚ the system is simple and easy for constituents to understand because you only
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included the theft of unearned payroll for approximately $800‚000. All the defendants are stated to have received pay for hours they did not work. These thefts were alleged to have happened between August 2007 and March 2011. ("Former Patton State Hospital employees charged in $800‚000 payroll fraud case‚" n.d.) After criminal charges were filed‚ the State’s Controller’s office released an audit that uncovered inappropriate payroll methods resulting in over $900‚000 in payroll theft between July 2010 and
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According to the 2007 American Payroll Association (APA) national online survey‚ “GETTING PAID IN AMERICA‚” more than two-thirds‚ or 67% of America’s workers would experience financial difficulties if their paychecks were delayed for just one week—indicating that workers are living paycheck to paycheck. In partnership‚ the APA and ADP‚ Inc. combined resources and payroll expertise to provide America’s workers with information on how to maximize additional income through strategic management of
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Statistics Case Study-1 Age Weeks Employed 55 21 30 18 23 11 52 36 41 19 25 12 42 7 45 25 25 6 40 21 25 13 25 11 59 34 49 27 33 18 35 20 a. Age Weeks Employed Mean 37.75 Mean 18.6875 Standard Error 2.974195 Standard Error 2.188452 Median 37.5 Median 18.5 Mode 25 Mode 21 Standard Deviation 11.89678 Standard Deviation 8.753809 Sample Variance 141.5333 Sample Variance 76.62917 Kurtosis -1.17143 Kurtosis -0.21626 Skewness 0.337402 Skewness 0.522601 Range 36 Range 30
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M2 Analyse the advantages and disadvantages of different communication systems. Computers There are many advantages to computers as it allows you to connect to the World Wide Web. It has affected everyone in this day and age as it allows you to do so many things such as connects to people around the world. People use computers to perform different tasks quickly and easily. It is very time efficient as you can email someone and they can receive it straight away but with a letter it would not only
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What is Up with Having Payroll Taxes? Taxation on payroll is affecting many people in their everyday lives. There are several reasons why taxation on payroll should not occur. These reasons include money going to welfare and funding government programs; which in this case‚ is taking away money from the food and shelter costs. Payroll should not be taxed for several reasons. Some reasons include expensive government funding programs‚ welfare‚ and taking from everyday living costs. This essay
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Competitive advantages are strengths and strategies that keep a company ahead of its competitors. It is hard to measure competitive advantage and harder to maintain it. Some competitive advantages are fleeting. The successful companies are those that leverage their competitive advantage successfully and repeatedly. As understood by us in the above example the competitive advantage that the cyrptoses enjoy is a direct outcome of its natural habitat and hence the circumstantial gain over its rivals
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