Which of the Following Best Explains Why a Nation Exports

question 206

Short Answer

Which of the following best explains why a nation exports specific products and services?
Whether the nation has international companies
Whether a nation has a trade surplus
Whether a nation has an absolute advantage
Whether a nation has a balance of trade
The level of the country's GNP

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Definitions:

Machine-hours

A measure of the amount of time machines are operated, used in allocating overhead costs.

Direct Labour Cost

The total expense of wages paid to workers directly involved in the manufacturing process or production of goods or services.

Cost of Goods Manufactured

The total production cost of goods completed during a specific period, including labor, material, and overhead costs.

Manufacturing Overhead Applied

The portion of manufacturing overhead costs allocated to individual units of production based on a predetermined overhead rate.