1

Hi Carri, Your focus on evaluating opportunity costs and comparative advantages aligns well with sound business strategy. It's indeed crucial to seek ways to produce your product at the lowest opportunity cost, even though it can be challenging. Understanding the sacrifices involved in each decision is key to making informed choices that lead to success. The Production Possibility Frontier (PPF) model is a valuable tool in this regard, as it helps visualize the trade-offs and outcomes of different production combinations in the context of scarcity and trade-offs. Your experience highlights the benefits of trading, which can improve efficiency and profitability. In terms of companies in the news relevant to your discussion, an example that comes to mind is Starbucks. Starbucks has effectively used comparative advantage in its global supply chain strategy. By sourcing coffee beans from regions where they can be grown most efficiently, Starbucks has been able to offer high-quality products while managing costs. This strategic use of comparative advantage has contributed to Starbucks' success and global presence in the coffee industry. Best, Jerome Hi Tonisha, | appreciate how you emphasized the importance of understanding what is sacrificed to gain something else, whether it be time or physical resources. Your method of assessing the allocation of time and resources for each product to improve inventory is a crucial starting point. Also, your consideration of trade opportunities with other companies to enhance production efficiency shows your understanding of leveraging comparative advantages. Utilizing a Production Possibility Frontier graph to visually represent different production possibilities is a wise decision, as it provides a clear and concise overview of the potential impacts of each decision on your business. In regard to companies in the news relevant to your discussion, one example that comes to mind is Tesla Inc. Tesla has effectively used comparative advantage in its battery supply chain. By partnering with suppliers who have expertise in battery technology, Tesla has been able to focus on its core competencies in electric vehicle design and manufacturing