SCENARIO: CHILE AND ARGENTINA

question 166

Multiple Choice

SCENARIO: CHILE AND ARGENTINA
Chile and Argentina each produce jellybeans and peanut butter, using
Labor as their only resource.Each country has 1,000 hours of labor.In
Chile, an hour produces a pound of jellybeans and 2 hours produce a
Pound of peanut butter.In Argentina, an hour produces a pound of
Jellybeans and 3 hours produces a pound of peanut butter.When they do
Not trade with each other, Chile consumes 600 pounds of jellybeans and
200 pounds of peanut butter, and Argentina consumes 400 pounds of
Jellybeans and 200 pounds of peanut butter.
Reference: Ref 2­10
(Scenario: Chile and Argentina) Which country has a comparative
Advantage in jellybean production?

• A)Chile
• B)Argentina
• C)Neither Argentina nor Chile has a comparative advantage.
• D)Both Argentina and Chile have a comparative advantage.

Describe the role of balanced scorecards in managerial control and performance evaluation.

Explain the significance and methods of quality control in organizational operations.

Recognize the importance of financial planning and control in organizational performance, including budgeting and financial forecasting.

Analyze the impact of compensation and benefits in attracting and retaining employees.

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Definitions:

Earned Surplus

The portion of a company's net income that is retained for reinvestment, rather than being distributed as dividends to shareholders.

MBCA

Model Business Corporation Act, a recommendation for state law on corporations, providing a template for corporate governance and operations.

Net Asset Test

A financial assessment to determine a company's or individual's net worth by subtracting total liabilities from total assets.

Revised Act

Refers to legislation that has been updated or amended to incorporate changes or new provisions since its original enactment.