Table 3-3 -Refer to Table 3-3

question 136

Multiple Choice

Table 3-3
$\begin{array}{|l|c|c|c|c|}\hline&\text { Hours needed to make one unit of: }&&\text { Amount produced in } 2400 \text { hours: }\\\hline & \text { Cars } & \text { Aeroplanes } & \text { Cars } & \text { Aeroplanes } \\\hline \text { US } & 40 & 160 & 60 & 15 \\\hline \text { Europe } & 50 & 150 & 48 & 16 \\\hline\end{array}$
-Refer to Table 3-3.The opportunity cost of one car for the US is:

• A)four aeroplanes
• B)three aeroplanes
• C)1/3 aeroplane
• D)1/4 aeroplane

Explain the concept of new urbanism and its significance in promoting environmentally sustainable development.

Understand the classification of inventory costs and their impact on financial statements.

Analyze the effects of inventory costing methods (LIFO, FIFO, Average) on financial outcomes.

Understand the concept of LIFO reserve and its financial implications.

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Definitions:

Earth-Centred

A perspective that recognizes the Earth and its ecosystems as central and critical to human existence, encouraging a respect and care for the natural environment.

Instrumental Values

Values based on the usefulness or practical utility of an object, idea, or action, often viewed in terms of means to an end.

Planetary Management

Strategies and practices aimed at managing Earth's resources and environments in a way that supports continued human survival and prosperity.

Economic Growth

The increase in the production of goods and services in an economy over a period of time, often measured by the rise in GDP (Gross Domestic Product).