The First Person to Publish the Idea That Columbus Had

question 101

Multiple Choice

The first person to publish the idea that Columbus had discovered a new continent was

• A) Pedro Alvares Cabral.
• B) John Cabot.
• C) Amerigo Vespucci.
• D) Martin Waldseemüller.

Understand how production possibilities frontiers reflect economic trade-offs and efficiency.

Interpret graphical representations of economic models related to production and trade.

Analyze the effects of specialization and comparative advantage in trade.

Understand the concept of opportunity cost and how it relates to comparative advantage.

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Definitions:

Operating Departments

Specific areas within a business that are responsible for certain operations related to the production of goods or delivery of services.

Logistics Department

A division within a company or organization responsible for managing the movement and storage of goods, services, and information.

Variable Costs

Expenses that change in proportion to the production or sales levels, including labor and materials.

Fixed Costs

Expenses that do not change with the level of production or sales activities within a certain range or time period, like rent or salaries.