Suppose That a Worker in Taiwan Can Make 2 TVs

question 141

Essay

Suppose that a worker in Taiwan can make 2 TVs or 10 pairs of shoes per week, and a worker in Korea can make 3 TVs or 20 pairs of shoes per week.
a. In what sense do TVs and shoes cost less in Korea than in Taiwan?
b. In what sense do TVs cost less in Taiwan than in Korea?
c. If Taiwan and Korea were to engage in trade, which country would export which good?
d. How would the answer to the question in part c change if a worker in Korea could make 4 TVs per week?

---

Definitions:

Data Members

Variables that hold the state of an object in a class, typically private and accessed via getter and setter methods.

Superclass

A superclass is a class in object-oriented programming from which other classes inherit methods and attributes.

Superclass

A class from which a subclass inherits features, including fields and methods.

Properties

Characteristics or attributes that describe an object or class in programming and software development.