This Table Shows How Much Cotton and Cocoa Can Be

question 13

Multiple Choice

This table shows how much cotton and cocoa can be produced in Peru and Brazil with one unit of equivalent resources.
TABLE 32-4
-Refer to Table 32-4.Compared with Peru,Brazil has

• A)a comparative but not absolute advantage in the production of cocoa beans.
• B)an absolute and a comparative advantage in the production of cocoa beans.
• C)an absolute,but not a comparative,advantage in the production of cocoa beans.
• D)an absolute advantage in the production of cotton.
• E)an absolute and a comparative advantage in the production of cotton.

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Definitions:

Market Leader

A company that has the largest market share in a given industry, dominating the competition in terms of sales, innovation, or brand recognition.

Low-involvement Product

A product that requires minimal thought and effort from the consumer prior to and during purchase.

Situational Influences

External factors that affect consumer behavior at the time of purchase, including physical environment, social settings, and time.

Purchase Decision Process

The stages a buyer goes through in recognizing a need, searching for information, evaluating alternatives, purchasing, and post-purchase behavior.