George and Michael Can Gain from Exchange

question 24

Multiple Choice

George and Michael can gain from exchange

• A) unless one has an absolute advantage in all goods.
• B) unless they have different opportunity costs.
• C) if each specializes in the production of the good for which he has the lower opportunity cost.
• D) if each specializes in the production of the good for which he has the higher opportunity cost.

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Definitions:

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of deoxyribonucleic acid (DNA), carrying genetic information.

Fertilisation

The fusion of gametes (egg and sperm) to initiate the development of a new individual organism.

Zygote

The initial cell formed when a sperm cell fertilizes an egg cell, representing the earliest stage of embryonic development.

Egg

A reproductive cell produced by female organisms, capable of developing into a new individual upon fertilization.