Suppose That a Typical German Factory Can Produce 20 Cameras

question 74

Multiple Choice

Suppose that a typical German factory can produce 20 cameras or 1 computer in an hour, and that a typical American factory can produce 10 cameras or one computer in an hour. The opportunity cost of 20 cameras in terms of computers in the United States is

• A) 10 computers per camera.
• B) 2 computers per camera.
• C) 1 computer per camera.
• D) 1/20 of a computer per camera.

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Definitions:

Inequality

The unequal distribution of resources, rights, and opportunities among individuals or groups within a society.

Class Consciousness

Awareness of one's own social class position and the collective interests of that class.

Industrial Capitalism

An economic system characterized by private or corporate ownership of capital goods and the production of goods and services for profit within an industrial framework.

Social Classes

Categories of individuals in a society who share similar socioeconomic positions and cultural norms.