John Is the Manager of a Small Business

question 10

Multiple Choice

John is the manager of a small business.He often goes around to his employees to motivate them to achieve organizational objectives.This is an example of successful _____.

• A)Team member
• B)Group member
• C)Leadership
• D)Management

Understand the role of factor endowments in determining comparative advantage.

Describe the impact of technology on national comparative advantages.

Recognize the economic theories explaining international trade, including the Heckscher-Ohlin model.

Understand how labor productivity and wages influence international trade.

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Definitions:

Overhead Costs

Expenses related to the day-to-day running of a business that can't be directly linked to any specific product or service.

Directly Related

Having a direct connection or relevance to another factor, typically implying a cause-and-effect relationship or close association.

Direct Materials

Raw materials that can be directly attributed to the production process of a specific product.

Direct Labor

The cost associated with the work of employees directly involved in the production of goods or services.