Table 3-5 Assume That England and Spain Can Switch Between Producing Cheese

question 77

Multiple Choice

Table 3-5
Assume that England and Spain can switch between producing cheese and producing bread at a constant rate.

-Refer to Table 3-5.The opportunity cost of 1 unit of cheese for England is

• A) 1/4 unit of bread.
• B) 1 hour of labor.
• C) 4 units of bread.
• D) 4 hours of labor.

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Definitions:

SMART Goal

Stands for goals that are Specific, Measurable, Achievable, Relevant, and Time-bound, used in project management and personal development to achieve success.

Time-Bound

Relating to objectives or initiatives that have a specific duration or deadline by which they must be achieved or completed.

Motivation

is the psychological drive or force that prompts an individual to act in a certain way to achieve specific goals or satisfy needs.

SMART Goal

A framework for setting objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound, facilitating clear and attainable goal-setting.