Figure 9-14

question 149

Multiple Choice

Figure 9-14.On the diagram below,Q represents the quantity of crude oil and P represents the price of crude oil.
-Refer to Figure 9-14.The country for which the figure is drawn

• A)has a comparative advantage relative to other countries in the production of crude oil and it will export crude oil.
• B)has a comparative advantage relative to other countries in the production of crude oil and it will import crude oil.
• C)has a comparative disadvantage relative to other countries in the production of crude oil and it will export crude oil.
• D)has a comparative disadvantage relative to other countries in the production of crude oil and it will import crude oil.

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Definitions:

Reportable

Pertains to information or incidents that must be officially recorded or disclosed, often in the context of legal, financial, or regulatory requirements.

Operating Segments

Components of a business that engage in operations that earn revenues, incur expenses, and are reviewed regularly by the company's management.

Reportable Segment

A component of a business that generates revenues and expenses related to the business’s operations, and whose financial results are regularly reviewed by the entity’s chief operating decision maker.

Minimum Revenue

The lowest amount of income considered acceptable or necessary for a company or project to stay viable.