Which of the Following Describes Comparative Advantage

question 339

Multiple Choice

Which of the following describes comparative advantage?

• A) To produce a bushel of wheat Farmer John must give up 2 bushels of corn whereas Farmer Ben must give up 3 bushels of corn.
• B) Company A can produce 4 boxes of cereal in a day whereas Company B can produce 5 boxes of cereal in a day.
• C) Firm A can produce a good at a cost of $3 and Firm B can produce the good at a cost of $4.
• D) Jane can type 50 words per minute and Joe can type 60 words per minute.

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Definitions:

Transactional Leadership

A leadership style that focuses on the execution of transactions, tasks, and rewards based on the performance of the followers.

Exchanging Valued

Refers to the act of trading or swapping items or services that hold value to the participants.

Complexity Leadership

A leadership approach that embraces the complexity of modern organizations and adapts to change dynamically.

Adaptive Systems

Systems designed to adjust and modify their behavior in response to internal changes and external environmental factors.