-Use the Above Table

question 289

Multiple Choice

-Use the above table. If the level of production was determined by the market, it would be

• A) 4.
• B) 5.
• C) 6.
• D) 7.

---

Definitions:

Factor Endowments

The quantity and quality of labor, land, and natural resources of a country.

Acquired Comparative Advantage

A concept where a country becomes more proficient and competitive in producing goods or services not because of natural factors but through practice and technological advancement.

Subsidy

A form of financial aid or support extended to an economic sector (or institution, business, or individual) generally with the aim of promoting economic and social policies.

Labor-Intensive Goods

Products or services that require a relatively high amount of labor compared to capital in their production or delivery processes.