Use the Following to Answer Questions: Table: Production in the United

question 88

Multiple Choice

Use the following to answer questions: Table: Production in the United States and Germany $$\begin{array}{l}\text { Labor units required to produce: }\\\begin{array} { l c c } & \text { One Clock } & \text { One Sofa } \\\hline \text { United States } & 2 & 5 \\\text { Germany } & 3 & 9 \\\hline\end{array}\end{array}$$
-(Table: Production in the United States and Germany) According to the table, the opportunity cost of producing one clock in the United States is _________, and the opportunity cost of producing one clock in Germany is _______.

• A) five sofas; nine sofas
• B) 0.4 sofas; 0.33 sofa
• C) five clocks; nine clocks
• D) 2.5 clocks; three clocks

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Definitions:

Brand Name

The unique identifier, often a word or series of words, that a company uses to distinguish its products or services from those of competitors.

Important Attributes

Critical characteristics or features that determine or significantly impact the value, functionality, or appeal of a product or concept.

First Purchase

The initial acquisition of a good or service by a customer.

Percentage of Sales Budgeting

A method of budgeting where marketing and/or advertising expenses are based on a predetermined percentage of past or forecasted sales.