Table 3-2 -Refer to Table 3-2

question 104

Multiple Choice

Table 3-2
$\begin{array}{|c|c|c|c|c|}\hline&\text { Labour hours needed to produce one unit of: }&&\text { Amount produced in } 60 \text { hours: }\\\hline & \text { Butter (kg) } & \text { Butter (kg } & \text { Rice (kg) } & \text { Rice (kg) } \\\hline \text { Lee } & 6 & 10 & 15 & 4 \\\hline \text { John } & 3 & 20 & 15 & 4\\\hline\end{array}$
-Refer to Table 3-2.The opportunity cost of 1 kg of butter for John is:

• A)3/2 kg of rice
• B)4/3 kg of rice
• C)3/4 kg of rice
• D)2/3 kg of rice

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Definitions:

Taxable Income

The portion of an individual's or entity's income used to determine how much tax is owed to the government in a specific tax period.

Untaxed Income

Earnings that are not subject to taxation by governmental authorities.

Assets

Resources owned by an individual or business that have economic value and can be used to meet debts or commitments.

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution of a problem.