Refer to the Information Provided in Table 33

question 86

Multiple Choice

Refer to the information provided in Table 33.2 below to answer the question(s) that follow.
Table 33.2
-Refer to Table 33.2. In Thailand, the opportunity cost of

• A) a motorcycle is 1/15 of a tractor.
• B) a motorcycle is 15 tractors.
• C) a motorcycle is 1/30 of a tractor.
• D) a tractor is 20 motorcycles.

Distinguish between statutory law and common law, including their origins and applications.

Appreciate the principles underpinning natural law and legal positivism.

Identify the differences and functions of substantive law, procedural law, public law, and private law.

Comprehend the structure and function of administrative agencies within the legal system.

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Definitions:

Business Decision Makers

Individuals or groups within an organization responsible for analyzing situations and making choices that affect the organization's direction and success.

Resources

Assets, materials, and inputs needed for the production of goods and services, including human resources, natural resources, and capital resources.

Price-Taker Firm

A price-taker firm is a business that accepts the market price set by the forces of supply and demand, lacking sufficient power to influence the price on its own.

Maximize Profit

The process of increasing the difference between the cost of production and the revenue generated from sales to the highest possible level.