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BUSN 5620 Unit 8 Personal Assignment

BUSN 5620 Unit 8 Personal Assignment - Lakisah Mikell BUSN...

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Lakisah Mikell BUSN 5620 Unit 8 Personal Assignment Questions for Discussion 1. Suppose a lawyer can type faster than any secretary. Should the lawyer do her own typing? Demonstrate the validity of your answer. The lawyer shouldn’t do her own typing. If the lawyer did her own typing, they wouldn’t be able to get much work done and this would cause productivity to decrease. With the addition of the secretary, both the lawyer and secretary would experience a greater increase in production because the lawyer will be able to concentrate and complete other tasks that need their attention while the secretary is busy typing and producing whatever the lawyer needs typed. This would be a comparative advantage for the firm because they’re now able to produce their services at a more efficient rate. 2. If a nation exported much of its output but imported little, would it be better or worse off? How about the reverse; that is, exporting little but importing a lot? If a nation exports much of its output but imports very little, that nation would have a trade surplus.
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