The DECA is best described as an "association of high school students with a focus in marketing, business, finance, hospitality, and management".
The Distributive Education Clubs of America (DECA) refers to a non-profit organization that is classified as a Career and Technical Student Organization (CTSO). It has members all over the world, from the United States, to Canada, to China, to Germany, to Polan, and Mexico. Its programs are authorized by the US Congress and the Department of Education.
The programs of DECA are designed to meet the interests and learning styles of each student. It comprises the High School Division, and the Collegiate Division.
To learn more about DECA:
brainly.com/question/13093910
#SPJ1
Financial statements of a manufacturing firm
The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
Purchased $230,000 of materials.
Used $165,600 of direct materials in production.
Incurred $414,000 of direct labor wages.
Incurred $165,600 of factory overhead.
Transferred $699,200 of work in process to finished goods.
Sold goods for $1,104,000.
Sold goods with a cost of $621,000.
Incurred $197,800 of selling expense.
Incurred $115,000 of administrative expense.
The Financial Statements of Sorensen Manufacturing Company for the first month of its operation are as follows:
Sorensen Manufacturing Company
Income StatementFor the month of January
Sales Revenue $1,104,000
Cost of goods sold 621,000
Gross profit $483,000
Selling expenses $197,800
Administrative exp. 115,000 312,800
Net income $170,200
Sorensen Manufacturing Company
Balance SheetAs of January 31
Accounts Receivable/Cash $1,104,000
Inventory:
Raw materials $64,000
Work in process 165,600
Finished goods 78,200 $307,800
Total assets $1,411,800
Liabilities:
Accounts payable $230,000
Factory Overhead payable 65,600
Selling expenses 197,800
Administrative expenses 115,000
Total liabilities $608,400
Equity:
Net income $170,200
Common Stock $633,200
Total liabilities and equity $1,411,800
Data and Analysis:Raw materials:Purchases or raw materials = $230,000
Direct materials used = $165,600
Ending inventory of raw materials = $64,400
Work in Process:Direct materials used = $165,600
Direct labor = $414,000
Factory overhead = $165,600
Total production cost = $745,200
Finished goods = $699,200
Work in process inventory = $46,000
Finished goods:Work in process = $699,200
Cost of goods sold = $621,000
Finished goods inventory = $78,200
Learn more about financial statements at https://brainly.com/question/22941895
#SPJ1
Frank Petronick decided to start an accounting practice after graduation from college. The following is a list of events that occurred concerning Frank’s practice.
June 1: After shopping around, Frank found an office to lease and signed a lease agreement. The lease calls for a payment of $1051 rent per month.
June 4: Frank borrowed $3840 from his grandmother to assist in starting up his new business
June 4: deposits the $3840 plus $534 of his own cash in a new bank account at BMO under the name Petronick Accounting Services.
June 6: Paid the landlord the first month’s rent.
June 8: purchased furniture for $3290 on account
June 11: moved into the office and obtained the first assignment from a client to prepare year end financial statements for $1868
June 15: Performed the work on the assignment and sent an invoice to the customer for $1868
June 15: Paid half of the amount of the June 8 purchase of furniture
June 18: Purchased supplies on account for $339
June 26: paid for internet services, $53 cash
June 28: collected $903 of June 15 billing to the customer
June 30: withdrew cash from the business of $135 for personal expenses
A) prepare a tabular analysis of the effects of the above transactions on the accounting equation.
A tabular analysis of the effects of the transactions on the accounting equation is as follows:
Transaction Date Assets = Liabilities + Equity
June 4 $4,374 $3,840 $534
June 6 -$1,051 -$1,051
June 8 $3,290 $3,290
June 15 $1,868 $1,868
June 15 -$1,645 -$1,645
June 18 $339 $339
June 26 -$53 -$53
June 28 $903 - $903
June 30 -$135 -$135
Balance $6,987 = $5,824 + $1,163
What is the accounting equation?The accounting equation is a mathematical statement that shows that the assets are equal to the liabilities and equity given each business transaction and at the end of the accounting period.
For instance, the assets of Petronick Accounting Services at the end of June are equal to its liabilities plus equity.
At each date that a transaction occurs, the accounting equation remains in balance.
Transactions Analysis:June 4 Cash $4,374 Loan Payable $3,840 Common Stock $534
June 6 Rent Expense $1,051 Cash $1,051
June 8 Office Furniture $3,290 Accounts Payable $3,290
June 15 Accounts Receivable $1,868 Service Revenue $1,868
June 15 Accounts Payable $1,645 Cash $1,645
June 18 Supplies $339 Accounts Payable $339
June 26 Internet Services $53 Cash $53
June 28 Cash $903 Accounts Receivable $903
June 30 Withdrawal $135 Cash $135
Learn more about the accounting equation at https://brainly.com/question/24401217
#SPJ1
Victoria works in the human resources department of a small company. The president of the company wants to hire a new employee. What tasks will Victoria most likely need to do so she can find and hire the right person? People in HR careers often have to be empathetic. Describe a time when you showed empathy for someone else. Explain in your own words what empathy means.
pls help soon
The task that Victoria would have to do so that she can hire the right person would be to interview applicants.
What is empathy?This is the ability that people would have that would make them to be able to put themselves in the shoes of other people. By this I mean, they would be able to understand the feelings of others and help people to get through whatever they are passing through by showing kindness and understanding and helping in ways they can.
A time when I have shown empathy would be when a friend lost a loved one. I tried as much as I could to render my help to her.
Read more on empathy here:
https://brainly.com/question/16253958
#SPJ1
In Chapter 10, Persuasive Messages, you're learning about tone, style, and the key parts of persuasive messages. This week's discussion is all about the sample messages in Chapter 10, because there is a great deal to be learned from examples in writing.
Monday–Wednesday: Please discuss the messages in Figures 10.2 and 10.3.
Answer:
Explanation:
Step 1/2
Step 1:
The components of a convincing message:
The core idea of a captivating message today is one that engages, informs, manages to convince, or motivates. Reason and passion are commonly contrasted in conversations of advertisements. The elements of ethics (validity), drama (energy and excitement), and logos are present in every communication (rational and logic).
Explanationfor step 1
Persuasion, which is generally a system of communication, is the process of trying to persuade someone to change their mind or build a new mental image in order to modify their behavior. The method or route by which a signal is sent from its source to its recipient.
Step 2/2
Step 2:
Subject line:
Users perceive the subject line with the first short statement following the user's name in emails they receive from you. Once an email enters your mailbox, its first three things you saw at hitting view are also the user's profile, the balded text, and the previewing text.
Best Practices for Email Subject Lines:
1. Take notes from effective email subject field samples.
2. Be succinct and to the point.
3. Use a well-known sender name.
4. Avert using the "no-reply" sender name.
5. Use tokens for customization.
6. Split up your listings.
7. Make no fictitious promises.
8. Do divulge the contents to them.
Explanationfor step 2
Great subject lines are frequently intimate or descriptive and encourage readers to read your content. Any strategy you use, it's essential to keep your impact on the readers. Test out a variety of terms and expressions to determine which ones they favor.
Final answer
Note:
Learning very much about appeal will benefit you because it will make it easier for you to accomplish your objectives. Nothing more complex than that is involved. This logic also makes the underlying premise that there are tried-and-true persuasive theories that can then be studied and effectively used.
1. Deceitful Dad promises to take Sammy Son to the store to purchase a video game over the weekend. Deceitful Dad has promised to do this multiple times, and never follows through. Sammy Son has had enough and writes a contact between Deceitful Dad and Sammy Son. Both parties sign the agreement and it is notarized. Deceitful Dad, despite the contract, fails to follow through once again. Can Sammy Son seek damages under the contract? Why or why not? Would the result be different if Sammy Son paid Deceitful Dad $15.00 to take him to the store?
Answer:
Explanation:
No, I don't think so. It's not serious, and if Deceitful Dad makes it up and Sammy Son accepts the apology, then no charges will be pressed. Also the result might be different, but it's in his name, it's in his nature to lie, so Deceitful Dad might accept the 15 dollars first and not take him at all (basically, he could scam Sammy)
Is great profit or nay profit more important to consider when your deciding how successful and profitable a company is
Yes, gross profit or net profit is important in considering if your company is successful and profitable. The main of a business within an economy is to earn profit from its operations and activities.
Net profit is the quantity of money your business earns after deducting all operating, interest, and tax fees over a given period of time. to reach at this cost, you need to recognize a business enterprise's gross profit. If the value of internet income is bad, then it's far known as internet loss.
How do you calculate your net profit?
Net profit is gross earnings minus operating expenses and taxes. You may also consider it as general profits minus all expenses.
What is net profit also referred to as?
Synonymous with internet income, net profit is a business enterprise's general earnings after subtracting all costs. Expenses subtracted consist of the prices of regular business operation as well as depreciation and taxes. Net profit is generally called a business enterprise's “bottom line” and is a true indicator of a business enterprise's profitability.
What's net profit and gross?
Gross earnings suggests how an awful lot money your enterprise makes after meeting a few prices. Net profit indicates how an awful lot you make after assembly all expenses. A business's gross profit is the money it has left after buying the goods and offerings it sold. Its internet income is the cash left after paying clearly all fees and taxes.
Learn more about Net profit here :- https://brainly.com/question/15530787
#SPJ9
Studies have found a strong relationship between academic dishonesty and
Answer:
Studies have found a strong relationship between academic dishonesty and dishonesty at work. One way to say this is that the decisions you make when you're younger can often set the trajectory for the decisions you make when you're older.
What is organizational structure
An organizational structure is the process by which the activities of the organization which includes but not limited to task allocation, coordination, and supervision are directed toward the achievement of organizational set goals.
Organizational structure influences the actions of the organization and provides the framework on which standard operating procedures and routines rest are developed.
Types of Organizational Structure.There are four major types of organizational struct and they include the following.
Functional structure. In a functional structure, organizations are divided into specialized groups with specific roles and duties. Divisional structure. In a divisional structure, various teams work alongside each other toward a single, common goal. ...Flatarchy refers to having both a hierarchical structure and a flatter structure that is more flexible, more independent and that is called a flat teamMatrix structure refers to cross-team collaboration and shared resource planning across projects.Learn more about Organizational structure at https://brainly.com/question/23967424
#SPJ1
Which of the following is NOT important to consider when choosing a career?
a
Your values
b
Your interests
c
Your skills
d
Your desired future lifestyle
e
All of the above are important to consider when choosing a career
Answer:
D. Your desired future lifestyle.
Why? Because you don't need your desired future lifestyle to be in mind as you choose your career. However, if it is not correct, then I think it would be E. All of the above are important to consider when choosing a career.
Explanation:
If it's wrong, I'm truly sorry, but I believe it is correct. Please give me Brainliest, but you don't have to if you don't want to. Thank you.
Why is it important to visit Nissan-sponsored and third-party automotive websites?
Answer: NO DONT VISIT NISSAN, VISIT MCLAREN!
Explanation: MCLAREN > NISSAN
Wiley Company had total revenues of $360,000 for a recent month. During the month the company incurred operating expenses of $246,000 and purchased land for $66,000. Compute the amount of Wiley’s net income for the month.
Wiley Company's net income for the month is $114,000.
What is the net income?The net income is the difference between the total revenue and the total expenses.
The total expenses include direct and indirect costs.
Direct costs are also called marginal, variable, or differential costs because they vary according to the output level. Examples of direct costs are direct materials, direct labor, variable overheads, or cost of goods.
The indirect costs are called fixed costs and do not change based on the output level. Some of the fixed costs include rent expenses, insurance expenses, property taxes, and factory equipment depreciation.
Data and Calculations:Total revenues of $360,000
Total operating expenses of $246,000
Net income for the month = $114,000 ($360,000 - $246,000)
Thus, Wiley Company's net income for the month is $114,000.
Learn more about the net income at https://brainly.com/question/15530787
#SPJ1
How can a hotel sales representative identify who is
responsible for purchasing meeting space, banquets,
and rooms for corporate travelers in the corporate
headquarters of an insurance company?
They accomplish this through lobbying the groups in the market and meeting with the groups that the hotels appear to.
Briefing:-The dissection might have a convention service branch in addition to the sales function. The information about sales groups visiting the hotel is covered in this section. Convention services would take care of the group's "external" needs, booking requirements, catering needs, and meeting preparations. The hotel sales representative looks after the lodging establishment's needs for promotion and the information obtained from market research. Questions about airfare should be addressed to the sales agent for lodging facilities.
What does marketing lobbying mean?As was already noted, a lobby is a collection of people or businesses that exerts pressure on public officials. Additionally, it refers to the endeavor to exert influence over others.
To Know more about convention
https://brainly.com/question/5248113
#SPJ9
In 2007, actor George Clooney was hospitalized in New Jersey after a motorcycle accident. When the hospital's privacy officer conducted a privacy audit of the HER, the audit revealed that 27 doctors and other hospital employees not involved in the care had access the record. Within hours, information regarding his hospitalization and condition was published by a pop culture magazine. The access and release of information is a clear HIPAA violation. As an HIM professional, what recommendations would you make to the hospital chief executive officer (CEO) for discipline of:
• The employee(is) who accessed the record to satisfy personal curiosity • The employee(s) who leaked information to the press
Clooney Shows That Private Medical Information Is Not So Private
A total of 27 employees at a hospital in New Jersey were fired on Wednesday after it was discovered that they had allegedly viewed George Clooney's private medical information while the actor was receiving treatment there following a motorbike accident.
Administrators claimed that none of the four staff who were each suspended for four weeks were treating Clooney, which raised a number of concerns about who can access patient medical records and what safeguards are in place to ensure their privacy.
Clooney and passenger Sarah Larson were hurt after the motorcycle he was operating collided with a car on September 21. They were both brought to Palisades Medical Center in North Bergen, New Jersey. Larson damaged her foot, and Clooney fractured a rib. The confidentiality breach was found, according to hospital management, following a normal audit.
According to Eurice Rojas, the hospital's vice president of external affairs, "we routinely undertake audits to make sure our procedures are safeguarding individuals' rights." "In light of this situation, we immediately started an audit, which prompted [the investigation]." Since 1996, when hospitals first started storing sensitive medical data on computer systems, insurance firms and hospitals have been obligated by federal law to protect the privacy of medical information.
To learn more about George Clooney from the given link.
https://brainly.com/question/26572153
#SPJ9
Which form of advertising is the most dominant medium?
Answer: Local Broadcasting is Still the Most Dominant Medium.
Explanation:
Television and the local broadcasting are the form of advertising is the most dominant medium.
What is advertising?
The term “advertising” refers to the part of marketing communication. Advertising is a promotional tool used to attract and inform consumers about available products and services. The main objective of the advertisement is to promote a product or service being purchased by the target audience.
A mass communication medium known as “television is used here. A variety of channels, including news, sports, music, and movie channels, are available on television. Television and the local broadcasting are the dominant medium of advertising are the influenced to the public. The local broadcasting are the influenced the audience are the purchased the product.
As a result, the television and the local broadcasting are the form of advertising is the most dominant medium.
Learn more about on television, here:
https://brainly.com/question/11867986
#SPJ2
Victoria works in the human resources department of a small company. The president of the company wants to hire a new employee. What tasks will Victoria most likely need to do so she can find and hire the right person? People in HR careers often have to be empathetic. Describe a time when you showed empathy for someone else. Explain in your own words what empathy means.
Answer:
Being able to understand and help with another's emotions.
Explanation:
Answer:shes right
Explanation:
An email usually is short in length and very direct.
True or false
Answer:
True
Explanation:
It should be short not too long so the reader xan read it easier and do not get bored with it. Direct because there is a chance they wouldnt understand you if you give hints, but not direct question/answer etc .
Companies persist with ineffective ads for many reasons. The belief that, if they don't advertise as much as their competitors they will not succeed, is called:
Group of answer choices
competitive pressure
conflict of interest
incentive system
prisoner's dilemna
The belief that, if they don't advertise as much as their competitors, they will not succeed, is called competitive pressure. Thus, option A is correct.
What is Companies?A company can be defined as commercial business organization who has a separate legal entity which has its owner, they are texting financial liability who work in order to earn money.
As in the present time there are a lot of people who are in a competition business, therefore it is necessary the even though business advertisement is not doing well to keep it on it as it would create a sense of establishment in the economic market for the firm.
This would create a sense of competition in the market. Therefore, option A is the correct option.
Learn more about Companies, here:
https://brainly.com/question/27238641
#SPJ1
The downtown Kingston and Saint Andrew Centre were built for $400 million JAD in 2010 (Reid, 2012). The Centre is owned by the Jamaican Urban Development Corporation (UDC) and was formerly managed and operated by the Kingston and Saint Andrew Municipal Corporation (KSAMC) (Reid, 2012). Built as a multipurpose bus and taxi part the centre’s main function was to alleviate traffic congestion in downtown Kingston, especially in the parade area. The centre has become dilapidated and unmanageable due to a lack of usage by transport operators, commuters, implementation, enforcement, and a failure to have an effective transportation policy (Teachdem. n.d.).
Why was this project done and who are the main stakeholders? Which stakeholder (s) benefited from the project, and which did not? Who should be held accountable for this project?
2. Outline a detailed approach to successfully manage a similar project in the future. (Hint: Place special emphasis on stakeholders, risks, and scope).
3. Was this project successful in delivering value to Jamaica? Critically explain your answer.
4. Identify the main reasons for the project’s failure.
When a project reaches its goals and lives up to or above stakeholder expectations, it is deemed successful.
Who are the stakeholders ?
People who are stakeholders in your project are those who are interested in it or care about it. They are the individuals who actively participate in the project's work or who stand to gain or lose from the project. Motorists are stakeholders who benefit when a project to add lanes to a highway is managed. However, you have a detrimental impact on people who live close to the highway both during construction (because to the noise) and after (due to the long-lasting effects) (increased traffic noise and pollution).
To learn more about stakeholders checkout the link below :
https://brainly.com/question/15532995
#SPJ4
What kind of risks can exist in a business?
Answer:
Business risk usually occurs in one of four ways: strategic risk, compliance risk, operational risk, and reputational risk.
Explanation:
Do you have what it takes to be an entrepreneur?
Answer:
i think so but im not sure i think i would make a great one
If you had a clause in your wage contract that increased your wage bythe rate
of inflation as measured by the CPI calculated above, wouldyour standard
of living increase, decrease, or stay the same over the years 2003–2005?
Why
If wage is increased at the inflation rate measured by the CPI, the standard of living would increase. This is because the CPI overstates inflation.
What is the CPI?The consumer price index measures the changes in price of a basket of good. It is used to measure inflation.
Inflation is when there is a persistent rise in the general price levels in an economy. Inflation can be as a result of increase in the cost of production or an increase in the demand for goods and services. The consumer price index usually overstates inflation.
Consumer price index = (cost of basket of goods in current period / cost of basket of goods in base period) x 100
One of the measures of the standard of living, is if wages rise in tandem with inflation. If the rate of increase in wages is greater than that of inflation, the standard of living is higher.
Please find attached the table. To learn more about, consumer price index, please check: https://brainly.com/question/26382640
#SPJ1
e United States and China each produce steel and toys.
The following are the production possibility schedules for each nation.
Answer the questions below based on the PPF schedules.
China
A
B
C
D
E
Steel
8
6
4
2
0
Toys
0
10
20
30
40
United States
A
B
C
D
E
Steel
16
12
8
4
0
Toys
0
12
24
36
48
Which country has absolute advantage in the production of steel?
Which country has absolute advantage in the production of toys?
Which country has comparative advantage in the production of toys?
Which country has comparative advantage in the production of steel?
If the two countries specialize and trade with each other, which country will import steel?
What are some advantages and disadvantages for
small U.S. businesses competing in
today's global markets?
Some advantages of small U.S. businesses competing in today's global markets include the following: Access to New Customers; Lowering Costs and Diversification of Business Risk.
These are advantageous in the sense that the projections suggest that, within a few years, the total dollar value of trade across national borders will be greater than the total dollar value of trade within all of the world’s countries combined.
However, the disadvantages for small U.S. businesses competing in today's global markets are political risk; Economic Risk; and cultural risk.
What is a global market?Global market is the market in which goods and services of one country are traded to people of other counties. Global market trends is a market that implies the exchange of goods and services between people located in different areas of the globe.
Therefore, the advantages include access to new customers, lowering costs, and diversification of business risk. However, the disadvantages include political risk, economic risk, and cultural risk.
learn more about global market: https://brainly.com/question/1405418
#SPJ1
Erickson Air is a large airline company that pays a customer relations representative $8,000 per month. The representative, who processed 3,000 customer complaints in January and 2,500 complaints in February, is expected to process 40,000 customer complaints during the year.
If Erickson Air is a large airline company that pays a customer relations representative $8,000 per month. the total cost of processing customer complaints in January and in February is: January $7,200, February $6,000.
Month Allocated CostJanuary allocated cost :
January allocated cost = $3,000 × ($8,000×12 months/ 40,000)
January allocated cost =$3,000 × 2.4
January allocated cost = $7,200
February allocated cost:
February allocated cost= $2,5 00 × ($8,000×12 months/ 40,000)
February allocated cost= $2,500 × 2.4
February allocated cost= $6,000
Therefore If Erickson Air is a large airline company that pays a customer relations representative $8,000 per month. the total cost of processing customer complaints in January and in February is: January $7,200, February $6,000.
Learn more about Month Allocated Cost here: https://brainly.com/question/14632912
#SPJ1
Strategies for managing your time include:
A) turn off your cell phone
B) learn to say no
C) keep track of what distracts or derails you.
D) all of the above
Answer:
A and C
Explanation:
All are important but these are the TOP
You should know what distracts you and turn off the device, remove things etc..
Hope this helps<3
Nearly every business relies on administrative support staff to complete vital tasks.
True
False
The statement "Nearly every business relies on administrative support staff to complete vital tasks." is True. Option A
This is further explained below.
What is business?Generally, An organization or entrepreneurial body that engages in commercial, industrial, or professional activity is what we mean when we talk about "doing business."
The Administrative Assistance Assistant is responsible for providing general administrative support to a broad range of academic or administrative units. In conclusion,
This support may include answering phones, greeting/referring/assisting guests, and other similar tasks.
Read more about business
https://brainly.com/question/15826771 #SPJ1
X
Blake quits his $50,000/year job to
care for his grandma for one year.
What's the opportunity cost of his
decision?
Answer:
he loses $50k is the correct answer
The opportunity cost of Blake's decision to quit his $50,000/year job to care for his grandma for one year is $50,000.
Why is this the opportunity cost ?This is the amount of money he would have earned if he had stayed in his job, but he is now giving up that money to care for his grandma.
In addition to the financial cost, there are also other opportunity costs associated with Blake's decision. For example, he may miss out on opportunities for career advancement, he may have to take on more debt, and he may have to sacrifice his own personal time and interests.
Find out more on opportunity cost at https://brainly.com/question/481029
#SPJ2
The accompanying table shows the maximum price each person in a small office is willing to pay for a memory foam seat cushion. Since each worker only has one chair, no one wants to buy more than one cushion. Use the table to construct an approximate demand curve for memory foam seat cushions.
The demand schedule is given below, the quantity demanded of memory foam seat cushions at each price.
Price($) Quantity Demanded
19 1
15 2
12 3
10 4
8 5
6 6
A diagram definition is a graphic diagram drawing, or plan that explains something by showing how its parts are related to each other. An example diagram is a diagram that shows how all the departments in an organization are connected.
A diagram is a simple drawing, mostly made up of lines, used to explain how a machine works. circuit diagram. You can summarize long descriptions into simple charts and diagrams. Synonyms plan, diagram drawing diagram.
Learn more about Diagram here:-https://brainly.com/question/24713052
#SPJ9
can Woolworths raise extra capital expansion?
Woolworths is funded by using WDB Investment Holdings. Woolworths has created a capital expansion aspect via its fantastic logistics systems and fantastically organized providers' contracts, which make sure that items are introduced at the proper time. further, the company makes use of generation to manipulate its supply chain and inventory.
Woolworths said a brand new pricing and fee approach might be implemented to neutralize Coles and include Aldi's effect on Woolworths' income. Measures will include lower pricing, better ranging, the targeted consumer gives the use of a revised and advanced loyalty gadget, and an in-depth strategy for improving its very own brands
Woolworths closed its USA. avenue group stores for four weeks from ceasing of change on Monday, despite the fact that its online business will remain open, Woolworths spokeswoman Kirsten Hewett said on Tuesday. Its small layout stores additionally make it difficult for clients to practice social distancing.Ma
Learn more about the capital expansion here:-https://brainly.com/question/867983
#SPJ9
1 pts
If Maria can produce more output from a set amount of resources than Lance, _____ has a(n)
advantage.
Maria has an absolute advantage.
What is absolute advantage?A person has absolute advantage in the production of a good or service if he produces more quantity of a good when compared to other people using the same or similar production resources. The concept of absolute advantage was introduced by Adam Smith, a Scottish economist in 1776 when he used it in the context of international trade.
For example, let's assume that Maria can produce 100 cobs of corn on 1 acre of farmland and Lance can produce 10 cobs of corn on 1 acre of farmland. Maria has an absolute advantage in the production of corn because she produces more quantities of corn when compared with Lance.
To learn more about absolute advantage, please check: brainly.com/question/25139916
#SPJ1