Which of the Following Is True of Multi-Weighted Scoring Models

question 90

Multiple Choice

Which of the following is true of multi-weighted scoring models?

• A) Will include quantitative criteria.
• B) Will include qualitative criteria.
• C) Each criterion is assigned a weight.
• D) Projects with higher scores are considered more desirable.
• E) All of these are true.

Identify conditions under which countries should specialize in the production of certain goods and engage in trade.

Calculate opportunity cost and understand its role in determining comparative advantage.

Recognize the benefits of specialization and trade for countries involved.

Analyze scenarios to determine which country has a comparative or absolute advantage in the production of specific goods.

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Definitions:

Income Elasticities

Refers to the sensitivity of the demand for a good to changes in the income of the consumers who buy this good.

Normal Goods

Products that see an increase in demand when consumer income grows, and experience a drop in demand as consumer income declines.

Wheat Yields

The quantity of wheat produced per unit of land area.

Total Revenues

The total amount of money generated by a firm from its sales activities before any costs or expenses are subtracted.