Japan and Italy both produce automobiles.

However, Italy can produce sports cars of a higher quality and at a faster rate

with a higher profit. Which one of the following statements is correct in this

scenario?

Which one of the following refers to the economic advantage that one

nation enjoys due to higher productivity in an economic activity?

Xiaomi Corporation, a Chinese multinational technology firm has experience in e-commerce and social media. The firm used its platform to engage

with fans and to invite them to product launches and parties. These actions enabled

Xiaomi to offer its consumers a sleek, highly specialized smartphone at a lower

price than other competing brands. 

Which one of the following is applicable to

Xiaomi in this scenario?

Suppose

the United States decides to limit the number of imported Japanese cars to 2

million per annum in order to help create more jobs and develop opportunities

for domestic suppliers. 

Which one of the following has been implemented in this

scenario?

Which one of the following can be associated with the

factor endowment theory?

Belgium is a country skilled at making both cheese and chocolate. They first

need to determine how much labour goes into producing both cheese and chocolate

Suppose it takes one unit labour to produce 10 units of cheese and one unit labour

to produce 20 units of chocolate. Which one of the following applies to

Belgium?

Takealot.com is a South African e-commerce firm, possessing three large

warehouses in Cape Town, Kwazulu-Natal and Johannesburg. To which one of the

following does its warehouses apply to?

Mercedes-Benz

offers a range of luxury cars and is known as an aspirational brand that is prestigious

and known for its superior engine quality. To which one of the following does

superior engine quality apply to?