Table 3-4 -According to Table 3-4:
A)England Has an Absolute Advantage in unit

question 124

Multiple Choice

Table 3-4
$\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make one unit of: }&&\text { Amount Produced in } 40 \text { hours: }\\\hline & \text { Cheese } & \text { Bread } & \text { Cheese } & \text { Bread } \\\hline \text { England } & 3 & 2 & 13.3 & 20 \\\hline \text { Spain } & 1 & 5 & 40 & 8 \\\hline\end{array}$
-According to Table 3-4:

• A)England has an absolute advantage in bread, and Spain has an absolute advantage in cheese
• B)England has an absolute advantage in cheese, and Spain has an absolute advantage in bread
• C)England has an absolute advantage in both goods, and Spain has an absolute advantage in neither goods
• D)Neither England nor Spain has an absolute advantage

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Definitions:

Expert Power

is the influence one possesses due to their skills, knowledge, or expertise in a particular area, which others recognize and value.

Distinct Source

A unique origin from which information, data, or materials are obtained.

Centrality

Centrality refers to the importance or influence of a role or position within a network or structure.

Knowledge-based Economy

An economy driven by the use of knowledge and information as the key asset for growth and development.