A difference in opportunity costs between businesses can lead to a comparative advantage in the production of a good and the decision to trade.
For this discussion, first play the simulation games Comparative Advantage (Without Trade) and Comparative Advantage (With Trade) in the MindTap environment. Then, you will share your experiences playing the games. Your work in this discussion will directly support your success on the course project.
In your initial post, include the image of your simulation report in your response. See the How to Submit a Simulation Report Image PDF document for more information. Then, address the following questions:
Imagine you own your own business. How would you evaluate opportunity costs and comparative advantage when making business decisions?
in excellent communication, IT and interpersonal skills and have the ability to work under pressure, handle many tasks at busy times and priorities my workload. Referring to the NASBM Standards, as an aspiring SBM I believe I obtain the personal skills required to be an effective SBM with previous experience in HR & Marketing, however this also identifies areas I need to develop in; such as Finance therefore, would say I currently sit in the school administration area (Tier 1) In most areas and hope to gain the relevant knowledge required to be a successful SBM by completing this course. There is much scope for me to develop my skills further which this course will allow me to do and enable me to practise this knowledge in my school, developing myself further in management and leadership skills highlighting the need for an SBM and securing this opportunity if it arises. 2.3: Analyse own professional role and challenges Above is an illustration of my role analysis; based on current role this shows much of my time is spent completing administration duties, To extract myself from mainly admin duties and step into more management and leadership activities, I have put in a request to shadow the office manager once a week and attend SLT meetings to learn about how the goals are set then see how the objectives can be met, the challenge I would face is falling behind on admin duties, however this can be tackled by better time management and also delegating a few duties to other team members. I have previous experience working in a HR field as a supervisor, therefore have developed skills in areas such as open communication, HR, marketing, negotiation and excellent time management, however this also identifies the need to develop my skills in the school finance and infrastructure area.>GET ANSWER