b. if the movie theater charges $10, who will buy movie tickets, and what will the movie theater’s profit be?
Answers
If the movie theater charges $10 per movie ticket, people who are willing to pay that amount or higher for a movie will buy the tickets.
This may include people who are avid movie-goers or those who have a specific interest in the movie being shown. However, some people may be deterred by the price and choose to wait until the movie is available for rental or streaming.
The movie theater’s profit will depend on a variety of factors such as the number of tickets sold, the cost of operating the theater, and any additional revenue streams such as concessions. Assuming that the theater is able to sell a reasonable number of tickets and keep operating costs low, the profit margin could be significant.
Overall, the success of the theater’s pricing strategy will depend on finding a balance between charging a price that is reasonable for consumers while still allowing for profitability.
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Related Questions
A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost (and ATC) of mining diamonds is constant at $1,000 per diamond, and the demand for diamonds is described by the following schedule:
Table 2: Demand for Diamonds
Price Quantity
$8,000 5,000
7,000 6,000
6,000 7,000
5,000 8,000
4,000 9,000
3,000 10,000
2,000 11,000
1,000 12,000
(a) If there were many suppliers of diamonds, what would be the price and quantity?
(b) If there were only one supplier of diamonds, what would be the price and quantity?
(c) If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africa's production and profit? What would happen to South Africa's profit if it increased its production by 1,000 while Russia stuck to the cartel agreement?
(d) Use your answers to part (c) to explain why cartel agreements are often not successful.
Answers
(a) the market would reach equilibrium at a price of $3,000 and a quantity of 10,000 the intersection of the demand, marginal cost curves, where quantity supplied equals the quantity demanded.
(b) If there were only one supplier of diamonds, what would be the price and quantity?(b) If there were only one supplier of diamonds, the supplier would have a monopoly and would set the price at the profit-maximizing level, which is the price where marginal revenue equals marginal cost. In this case, that would be $3,000 per diamond, as at this price, the quantity demanded would equal the quantity supplied. The quantity would be 10,000.
What would happen to South Africa's profit if it increased its production by 1,000 while Russia stuck to the cartel agreement?(c) If Russia and South Africa formed a cartel, they would collude to set a higher price, such as $6,000, in order to increase their profits. The quantity would decrease to 7,000. If the countries split the market evenly, South Africa would produce and sell 3,500 diamonds, earning a profit of $3,500,000 (3,500 x $1,000). If South Africa increases its production by 1,000 while Russia sticks to the cartel agreement, South Africa's profit would decrease to $2,000,000 (2,500 x $1,000) as it would have to sell the additional diamonds at the cartel price, earning only $6,000 per diamond instead of $1,000.
Use your answers to part (c) to explain why cartel agreements are often not successful.(d) Cartel agreements are often not successful because members have incentives to cheat on the agreement by increasing production to capture a larger share of the market. This can lead to a decrease in the overall price and profits for all members, as seen in the example above with South Africa increasing production. Additionally, new entrants may enter the market, breaking the cartel's control over the market. Furthermore, governments often intervene to prevent the formation of cartels or to break them up, as they can lead to higher prices for consumers and can restrict competition in the market.
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Which is NOT an indicator of a country's economic health? A. GDP B. standard of living
C. environmental awareness
D. inflation
Answers
Answer:
it's pretty much A or D figure it out
Which statement describes an advantage of buying a home?
A. Purchasing a home builds equity.
B. Homes depreciate over time.
C. Your landlord may force you to move.
D. Your taxes increase.
Answers
- homes usually don’t depreciate over time.
- when buying a home you don’t have a landlord.
- property taxes may go up, but that’s not an advantage.
Identify benefits of communicating with your staff and involving them in making decisions. Select one or more: a. They suggest improvements or Express opinions on decisions that affect them. b. They feel they are not in loop. c. Feel informed about the business and business goals. d. See how their contribution does not contribute to the big picture.
Answers
The benefits of communicating with your staff and involving them in making decisions. They suggest improvements or express opinions on decisions that affect them and They feel informed about the business and business goals.
The option (A) and (C) are correct.
By including staff in dynamic cycles and keeping up with open correspondence, associations can take advantage of the significant experiences and thoughts of their representatives. This can prompt recognizable proof of upgrades, inventive arrangements, and a feeling of pride among staff individuals.
Also, keeping representatives informed about the business and its objectives helps cultivate straightforwardness, adjusts everybody towards normal goals, and upgrades general commitment and inspiration.
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to prove disparate treatment in court, a plaintiff in a discrimination lawsuit must show an employer's intent. true or false
Answers
True, A plaintiff in a discrimination claim must demonstrate an employer's intent in order to establish unequal treatment in court.
What is the discrimination hypothesis referred to as "disparate treatment"?Disparate treatment occurs when some employees are treated less favorably by their employer than other similarly situated employees because of their race, color, religion, se-x, or national origin.
Generally speaking, intentional discrimination occurs when a recipient acts in a certain way because of the alleged victim's actual or suspected race, color, or national origin.
How is discrimination proven in a courtroom?It is necessary to reveal the person's name, race, s-ex, estimated age, and any other relevant details relating to the legal coverage. You should be familiar with their workplace, their management, and the type of work they do. You should be able to tell the EEOC how other people were treated differently from you.
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Which industry is the second-largest employer of teens
and young people?
What percentage of employed teens are employed by
the government?
I got it
is retail trade
and 7%
Answers
Answer:
I. Retail industry
ii. 7%
Explanation:
Retail industry is the second largest employers of teen and young people next to health sector which is the largest employer.
Retailing involves buying goods either from the producers or wholesaler and selling them to the final consumers. Some services are also offered in these retailing such as call center representative, those who work in innovation lab. etc
In the United States, about 7% of teens and young people are in the employment of government , while retail industry is the largest employer of teen and young people because it provides flexibility and also do not involve much academic qualifications.
Example of these retail jobs are those who work in call center, sales representatives and those who works in stores.
Answer:
Retail Trade
7%
Explanation:
Edge 2020
the activities are carried out by the following three persons: administrative support person: filing and writing senior accountant (who is also the owner): initial meeting, review by senior accountant junior accountant: preparation assume that all three persons work eight hours per day and 20 days a month. for the following questions, assume the product mix as described above. assume that there are 50 income tax statements arriving each month. which of the 3 persons is a bottleneck?
Answers
The 3 persons is a bottleneck are the junior accountant's capacity, and if the business wants to increase efficiency, they need to focus on improving the junior accountant's productivity.
Income tax is a tax levied by the government on the income earned by individuals, businesses, and other entities. The income earned could be in the form of wages, salaries, commissions, interest, dividends, rents, and other forms of compensation.
The administrative support person's task is to file and write, which takes approximately 2 hours per income tax statement. Therefore, in a month, the administrative support person can handle 80 income tax statements
=> (160 hours / 2 hours per income tax statement).
The senior accountant's task is to have an initial meeting and review the work done by the junior accountant. This takes approximately 1 hour per income tax statement.
Therefore, in a month, the senior accountant can handle 160 income tax statements
=> (160 hours / 1 hour per income tax statement).
The junior accountant's task is to prepare the income tax statements. This takes approximately 4 hours per income tax statement.
Therefore, in a month, the junior accountant can handle 40 income tax statements
=> (160 hours / 4 hours per income tax statement).
This means that even if the administrative support person and the senior accountant work efficiently, the process will slow down because of the junior accountant's limited capacity.
In conclusion, the bottleneck in the process of preparing income tax statements is the junior accountant.
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what is the primary role of consumers in a free market economy?
Answers
Answer:
The consumer is the one who pays to consume the goods and services produced.
Explanation:
As such consumers play a vital role in the economic system of a nation. In absence of effective demand the producers would lack a key to motivation
If $240 is invested at an interest rate of 9% per year and is compounded monthly, how much will the investment be worth in 14 years? Use the compound interest formula A = P(1 r over n)nt. $68. 39 $704. 28 $842. 13 $846. 10.
Answers
With an investment of $240 at 9% interest rate, compounded monthly for 14 years, the investment will be worth $842. 13.
Data and Calculations:N (# of periods) = 168 (14 x 12)
I/Y (Interest per year) = 9%
PV (Present Value) = $240
PMT (Periodic Payment) = $0
Results:Future Value = $842.13
Total Interest $602.13
Thus, with an investment of $240 at 9% interest rate, compounded monthly for 14 years, the investment will be worth $842. 13.
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What have been the controversies related to bread
production and/or consumption, historically and in modern times?
250 words
Answers
Controversies related to bread production and/or consumption, historically and in modern times include the following:Historical ControversiesBread has been at the center of many controversies throughout history. For example, in the early 19th century, bakers in the United States were using alum and other additives to whiten bread, which resulted in the creation of laws regulating the use of additives in bread.
In the 20th century, bread was rationed during World War I and II, leading to black markets and smuggling.Modern ControversiesOne of the major controversies surrounding bread in modern times is the use of additives such as high-fructose corn syrup and artificial flavors. Some people believe that these additives are harmful to health and should be avoided. Another controversy is the use of genetically modified organisms (GMOs) in bread production.
While GMOs have been found to increase crop yields, some people are concerned about the potential risks they pose to human health and the environment.Furthermore, there is a controversy surrounding gluten, a protein found in wheat and other grains. Many people are sensitive or intolerant to gluten, leading to a rise in popularity of gluten-free diets and products.
However, some experts argue that the majority of people do not have a gluten sensitivity and that a gluten-free diet may actually be harmful to health. Lastly, the high levels of carbohydrates present in bread have been a subject of debate in recent years. Some people believe that bread should be avoided altogether due to its high carbohydrate content, while others argue that it can be part of a healthy diet in moderation.
In conclusion, bread has been at the center of many controversies throughout history and continues to be a topic of debate in modern times. These controversies often revolve around the use of additives, GMOs, gluten, and high levels of carbohydrates.
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How does having a list help save money at the grocery store? What other strategies can you use to save money at the grocery store?
Answers
Other strategies to help you save money would be...
1.Coupons
2.Sales
3.Going for cheaper brands
4.Only buying what you need
5.And more!
where does McKenna grace live? Brainliest for the correct answer
Answers
Answer:
McKenna grace lives in Texas of America.
Mattress Wholesalers, Inc., is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.5 million and inventory was $1.5 million. This year, cost of goods sold is $8.6 million and inventory investment is $1.6 million. A) What were the weeks of supply last year? B) What were the weeks of supply this year? C) Is Mattress Wholesalers making progress in its inventory reduction effort?
Answers
a) There is 10.41 weeks of supply last year.
b) There is 9.69 weeks of supply this year.
c) Yes, it is reduced by 7%.
a) For computing the weeks of supply last year, first we have to compute the average cost of goods sold which equals to
= Cost of goods sold ÷ Total Number of weeks in a year
= $7.5 million ÷ 52 weeks
= 0.144 million
Now, week supply can be calculated as:
= Inventory ÷ Average cost of goods sold
= $1.5 million ÷ 0.144 million
= 10.41 weeks
Thus, there is 10.41 weeks of supply last year.
(B) For computing the weeks of supply this year, first we have to compute the average cost of goods sold which equals to
= Cost of goods sold ÷ Total Number of weeks in a year
= $8.6 million ÷ 52 weeks
= 0.165 million
Now, week supply can be calculated as:
= Inventory ÷ Average cost of goods sold
= $1.6 million ÷ 0.165 million
= 9.69 weeks
Thus, there is 9.69 weeks of supply this year.
(C) yes, Mattress wholesalers making progress in its inventory by 7% reduction.
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In general, which type of marketing do you think is most effective for events: push or pull marketing?
Answers
Answer:
Push marketing is the faster way for businesses to gain immediate and fast cash flow right away. I would say this is the most effective.
Explanation:
What is a common consequence for an athlete who is been found to have used a banned drug a major competition
Answers
Answer:
Athletes who are found to have used such banned substances, whether through a positive drugs test, the biological passport system, an investigation or public admission, may receive a competition ban for a length of time which reflects the severity of the infraction.
Explanation:
Answer:
down below
Explanation:
A common form of punishment is disqualification from the sport they are competing in, a temporary ban from the sport, revoking their prize, and, in a few cases, permanent ban from competing in the sport they were found with the drug.
You can look up news articles to get more information.
Hope this helps! :)
The outer edge of a circular running track is 330m long. If it is widened by 7m all around, find the cost of widening it at 8 per square metre.
Answers
Answer:
Here given that perimeter of circular running track =330m
Let radius=r
As we know that in a circle
\({\boxed{\sf Perimeter=2\pi r}}\)
Substitute the values\(\qquad \quad{:}\longmapsto\tt 2\times\dfrac {22}{7}×r=330 \)
\(\qquad \quad{:}\longmapsto\tt \dfrac {44}{7}r=330 \)
\(\qquad \quad{:}\longmapsto\tt r=\dfrac {330×7 }{44}\)
\(\qquad \quad{:}\longmapsto\tt r=\dfrac{2310}{44}\)
\(\qquad \quad{:}\longmapsto\tt r=52.5 \)
\(\therefore\sf r=53m (Approx)\)
Again
\({\boxed{\sf Area=\pi r^2 }}\)
Substitute the values\(\qquad \quad{:}\longmapsto\tt Area=\dfrac{22}{7}×(53)^2 \)
\(\qquad \quad{:}\longmapsto\tt Area=8828.2m^2 \)
\(\therefore\sf Area=8828m^2 (Approx)\)
Nowthe radius is increased by 7m
Hence
New radius=(x+7)m=53+7=60m
New Area=
\(\qquad \quad{:}\longmapsto\tt \pi. r^2 \)
\(\qquad \quad{:}\longmapsto\tt \dfrac {22}{7}(60)^2 \)
\(\qquad \quad{:}\longmapsto\tt \dfrac {22}{7}×3600 \)
\(\qquad \quad{:}\longmapsto\tt 11314.28m^2 \)
\(\therefore\sf AREA=11314m^2 (Approx).\)
nowArea of widened Area=New area-Old Area
\(\qquad \quad{:}\longmapsto\tt 11314-8828 \)
\(\qquad \quad{:}\longmapsto\tt 2486m^2 \)
Cost of widening per square=8Total cost=
\(\qquad \quad{:}\longmapsto\tt 2486×8 \)
\(\qquad \quad{:}\longmapsto\tt 19888\)
\(\therefore\sf Total\:cost\:is\: 19888.\)
Can't understand the attachment?Here is a latex diagram for your question.
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national brands multiple choice offer no alternatives for getting rid of excess inventory. offer a higher profitability potential than store brands. can limit a retailer's flexibility. are specific to a retailer. pose a risk in the form of uncertain sales.
Answers
Compared to retail brands, national brands have a better potential for profitability. can reduce the flexibility of a merchant. Option 2 is Correct.
Manufacturer brands or national brands are terms typically used to describe companies that own and sell their own brands. Owners of these companies typically use direct marketing to them to grow their target consumer base. A private label or store brand is a unique product created or obtained for sale through a specific source, whereas a national brand is a well-known or well-established commodity.
Retailers frequently blend national brands with private label products to profit from each one's advantages. A national shop can diversify its assortments by offering private-label products. Among the various pricing categories designed for store brands, the premium option provides customers with quality. Option 2 is Correct.
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Correct Question:
National brands multiple choice
1. offer no alternatives for getting rid of excess inventory.
2. offer a higher profitability potential than store brands. can limit a retailer's flexibility.
3. are specific to a retailer.
4. pose a risk in the form of uncertain sales.
Technician a says that in a worm gear steering system, most excessive steering free play is usually found in the gearbox. technician b says that in a rack-and-pinion steering system, excessive free play can be found in the bushings. who is correct? choose one answer. a. technician a b. technician b c. both technician a and technician b d. neither technician a nor technician b
Answers
Answer:
b. technician b
Explanation:
Worm gear is the arrangement of gear like a worm in the vehicle. It has rack and pinion steering system. This setup provides smooth drive experience to the drivers. The excessive freeplay in such a setup is found in bushings.
A corporation has reported earnings per share of $1.00. If it pays a dividend of $.75 per share, the effect of the remaining $.25 will be to:________
A) increase retained earnings.
B) increase working capital.
Answers
Answer:
A. Increase retained earnings
Explanation:
The net income earned by a company in a particular year is always used for two purposes and treated in these ways- it is either paid out as dividends or retained in the business and transferred to the retained earning account or both. Thus, if out of $1.00 earnings per share, which is basically the net income earned per share, $0.75 is paid out as dividends per share, the remaining $0.25 is retained in the business and transferred to the retained earnings account.
Community redevelopment programs are primarily directed towards _______. a. preventing pollution in commercial and residential properties b. improving property values by eliminating blighted buildings c. establishing basic sanitation in urban environments and communities d. cleaning up abandoned, unused, and polluted properties Please select the best answer from the choices provided A B C D
Answers
Answer:
d. cleaning up abandoned, unused, and polluted properties
Explanation:
Given that Community redevelopment programs are programs established to create sufficient urban cities such that there is adequate proper housing and a suitable living environment including improvement in economic opportunities, majorly for the lower and middle class.
Hence, in this case, the correct answer is that community redevelopment programs are primarily directed towards "cleaning up abandoned, unused, and polluted properties." This will help the urban centers to have adequate housing and suitable living area.
Answer:
D. cleaning up abandoned, unused, and polluted properties
Explanation:
edge 2022 verified I just did the quiz below have a nice day :) <3
Which of these careers include supervising others?
welder
welder
project manager
project manager
foreman
foreman
forklift operator
Answers
The careers that needed supervision of others are welder and foreman. Thus option (a) and (b) are correct.
Who is a welder?A welder is a skilled tradesperson who specializes in joining pieces of metal or thermoplastics together using various welding techniques.
Welders must have a good understanding of welding techniques and materials, as well as safety practices and regulations. They use a variety of tools and equipment such as welding machines, cutting tools.
The welder and foreman are the professions that need supervision of others. Therefore, option (a) and (b) are correct.
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5. Which of the following defines a short-term goal? (1 point) Otasks that you set to accomplish specific things in a short period of time Otasks that must be completed for a job performance evaluation Otasks that you must complete that require time and planning that usually take 12 months or more to complete Otasks that you think you need to accomplish in the future but need to start working on now
Answers
A short-term goal is defined as: A. tasks that you set to accomplish specific things in a short period of time.
What is a Short-Term Goal?A short-term goal is a specific and achievable task or objective that a person sets out to accomplish within a relatively short period of time, usually less than a year.
These goals are intended to be completed quickly, helping individuals to move closer towards their long-term aspirations and provide a sense of progress and accomplishment. Short-term goals are often the building blocks towards larger, more significant achievements, and can help individuals stay motivated and focused on their overall objectives.
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What two factors influence an economic school of thought?(1 point)
Answers
Answer:
Free-market, or laissez-faire, economics and Keynesian theory.
Explanation:
The economic school of thought can largely be influenced by prevailing societal values and the historical context in which the theory is developed.
There are many factors that might influence an economic school of thought, but the two key elements are often prevailing societal values and historical context. Prevailing societal values can drastically influence an economic philosophy.
Furthermore, the historical context in which an economic thought emerges is crucial. Economists develop their theories in response to the economic challenges and realities of their time. The Great Depression deeply influenced Keynesian economics, and the stagflation of the 1970s prompted a shift towards monetarism.
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Describe your motivation for becoming a licensed cosmetologist/manicurist.
please help
Answers
There are several facets to the beauty industry that may be explored, including hair, cosmetics, and fashion, and one of those facets is cosmetology.
It's pleasant and gratifying to be someone who helps other people look their best. A profession as a cosmetologist might be ideal for you if you take pleasure in doing manual labor and consider yourself to be someone who gets along well with others. This is further explained below.
What is a cosmetologist/manicurist.?Generally, Manicurists are certified cosmetologists who focus only on providing manicures. You may get a gel manicure or French tips thanks to their skill with design and application. Moreover, they are well-versed in the care and treatment of nails.
In conclusion, You don't need an obsession with hair, cosmetics, and fashion to succeed in the cosmetology industry. Helping others shine visually is a rewarding and entertaining activity. Become a cosmetologist if you are outgoing, creative, and love using your hands.
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What is the meaning of factor of production?
Answers
A factor of production is a resource that is used in the production of goods and services. Factors of production are the inputs that businesses use to create the goods and services that they sell.
There are four main factors of production: land, labor, capital, and entrepreneurship.
Land refers to natural resources, such as land, minerals, water, and forests, that are used in production.
Labor refers to the work done by people, such as manual labor, skilled labor, and intellectual labor.
Capital refers to the resources used to produce goods and services, such as machinery, equipment, and buildings.
Entrepreneurship refers to the risk-taking and innovation that is required to start and run a successful business.
Each of these factors of production plays a crucial role in the production of goods and services.
For example, a factory that produces cars needs land for its facilities, labor to build the cars, capital to purchase the machinery and equipment needed to build the cars, and entrepreneurship to manage the production process and make decisions about how to allocate resources.
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Which statement most accurately describes a conflict of commitment? It involves a monetary gain by one party over another party. It occurs when outside activities interfere with one’s responsibilities to an employer. It occurs when an institution does not follow the financial rules from a funding source. It can only occur between an institution and an outside organization.
Answers
Answer:
It occurs when outside activities interfere with one's responsibilities to an employer
Explanation:
Conflict of commitment occurs when the commitment of an employer to a defined terms of employment is shared with other engagements, either personal or with other parties which could lead to a decline in efficiency due to loss of maximum concentration.
This may not necessarily involve monetary gain but has a whole lot of ways through which it can affect productivity as concentration is shared.
It is always good to define activities that constitute conflict of commitment right from the time of forming an employment contract so that an employee can be guided with it.
MRCH-6001-22S - Merchandising & Inventory Management (ASM2)
Submit to the submissions box-Warehouse comparison
Write a comparison of three sizes of warehouse facility:
Large/Extra large (example, Amazon fulfillment center)
Medium (example, auto dealership or any parts storage)
Small (stockroom in stores or restaurants)
In your comparison you must provide the following information:
Full address of the facility
Is it a company warehouse or a third-party logistics operation?
Approximate sq. ft. of facility
Types of inventory held at the facility
Are they/do they have outdoor storage?
Is it a manual or automated or hybrid system within the facility?
Is it a specialty facility (cold storage, hazardous materials, etc., and provide some details/examples)
Reference your information
There is a host of such facilities in London. You will have to research, you may have to use the phone and speak to a warehouse manager or logistics manager.
If they want me to contact them so that they know this is a legitimate request from a student/school, you will need to give me their name, title, email, or phone number, and the best time to contact them.
If you have any questions, email me.
Phil A.
Answers
This comparison examines large, medium, and small warehouse facilities, including their size, inventory, and automation.
What are the distinguishing characteristics of different warehouse sizes?The comparison of warehouse facilities in terms of size, ownership, inventory, storage, automation, and specialty features. Large/Extra large warehouses, like Amazon fulfillment centers, are company-owned facilities with a significant square footage that can span over several acres. They store a wide range of inventory items, utilizing both indoor and outdoor storage spaces. These warehouses often operate with highly automated systems, using advanced technologies to manage inventory efficiently.
Medium-sized warehouses, such as those found in auto dealerships or parts storage facilities, typically cover a moderate square footage. They can be company-owned or operated by third-party logistics providers. These warehouses store specific inventory related to the industry, such as automotive parts. While they may have limited outdoor storage, they often rely on a hybrid system combining manual and automated processes to manage inventory effectively.
Small warehouses, commonly found in stores or restaurants, are typically stockrooms. These compact spaces have limited square footage and store inventory specific to the business, such as retail products or restaurant supplies. They usually do not have dedicated outdoor storage areas. These facilities often rely on manual systems for inventory management, though some may incorporate basic automation elements.
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Discuss how satisfying a consumer and marketing go hand in hand.
Answers
Answer:
When a consumer have a great time at a store. They would want to come back later. They could also share their satification with others. Word of mouth is a good marketing tool.
Which best describes the business, management, and administration career cluster?
Answers
Answer:
are careers that are focused on running businesses.
Explanation:
The Business, Management, and Administration career cluster includes business skills essential to efficient, productive operations for any company (Administrative and information support, Business analysis, Business, financial management and accounting, Human resources, Management..) The Business, Management, and Administration career cluster is best described with the following: These are careers that are focused on running businesses.
Correct answer: A
when the two countries did not specialize, the total production of pistachios was 23 million pounds per day, and the total production of chinos was 68 million pairs per day. because of specialization, the total production of pistachios has increased by
Answers
Because of specialization, the total production of pistachios has increased by 13 million pounds per day, while the total production of chinos has increased by 36 million pairs per day.
This increase in production is due to the ability of the two countries to specialize in the production of the goods that they can produce most efficiently. As a result, the production of pistachios and chinos has increased significantly.
Specializing in production can also result in increased competition and international trade. As countries specialize in certain goods, they are able to produce them more cheaply and efficiently than other countries. This can lead to increased competition between countries and the emergence of international trade as countries buy from and sell to each other.
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