Greece can produce either 100 bushels of oranges or 20 bushels of tomatoes using all of its available resources. Turkey can produce either 40 bushels of oranges or 30 bushels of tomatoes using all of its available resources. What is the total world production of oranges after specialization and trade, assuming that each country fully specializes in the good in which it has a comparative advantage

Acompany that adapts its product mix to meet the needs of a new market is using which of the following global marketing strategies market development diversification strategy product development undiversified

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.

Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm