Homer and Teddy Are Stranded on a Desert Island

question 17

Multiple Choice

Homer and Teddy are stranded on a desert island. To feed themselves each day they can either catch fish or pick fruit. In a day, Teddy could pick 60 pieces of fruit or catch 20 fish. Homer could pick 100 pieces of fruit or catch 150 fish. Which of the following statements is correct?

• A) Homer has an absolute advantage in both catching fish and picking fruit.
• B) Teddy has an absolute advantage in both catching fish and picking fruit.
• C) Homer has an absolute advantage in picking fruit and Teddy has an absolute advantage in catching fish.
• D) Homer has an absolute advantage in catching fish and Teddy has an absolute advantage in picking fruit.

Identify and differentiate between various types of bank accounts and their features.

Recognize the risk and liability associated with debit and credit card usage.

Understand how interest rates affect savings and borrowing choices.

Understand the purposes and features of different financial services and products, such as certificates of deposit, asset management accounts, and trust accounts.

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Definitions:

Verbalize

The act of expressing thoughts and feelings in words.

Identity Confusion

A situation in which an individual or group is uncertain, unclear, or unable to define its own identity.

Self-esteem

An individual's sense of their own value or worth, often influenced by self-perception and societal factors, and fundamental to mental health and well-being.

Emotional Support

Assistance provided through empathy and concern to help individuals cope with stress and emotional challenges.