This topic contains a solution. Click here to go to the answer

Author Question: How does the discovery of new resources affect trade patterns around the ... (Read 24 times)

james0929

  • Hero Member
  • *****
  • Posts: 586
How does the discovery of new resources affect trade patterns around the world?

Question 2

Profit is the difference between:
 a. total output and total costs.
  b. total revenue and total costs.
  c. total revenue and total sunk costs.
  d. total output and total sunk costs.
  e. total revenue and opportunity costs.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

guyanai

  • Sr. Member
  • ****
  • Posts: 349
Answer to Question 1

Discovery of new resources often change a nation's core competencies and enables it to specialize in newer areas where it was earlier at a disadvantage. This can change established trade patterns between nations.

Answer to Question 2

b



james0929

  • Hero Member
  • *****
  • Posts: 586

guyanai

  • Sr. Member
  • ****
  • Posts: 349

 

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

For a complete list of videos, visit our video library