Table 3-12 -Refer to Table 3-1.Relative to the Rancher,the Farmer Has a Rancher,the

question 99

Multiple Choice

Table 3-12

-Refer to Table 3-1.Relative to the rancher,the farmer has a comparative advantage in the production of

• A) meat, but not in the production of potatoes.
• B) potatoes, but not in the production of meat.
• C) both meat and potatoes.
• D) neither meat nor potatoes.

---

Definitions:

Scientific Method

A systematic approach to research where the problem is identified, relevant data are gathered, a hypothesis is formulated from these data, and the hypothesis is empirically tested.

Low-Cost

Pertaining to something that is inexpensive or affordable, often emphasizing efficiency and economy.

Historical Data

Records of past events and conditions, used to analyze trends, understand historical context, or make forecasts.

Scientific Process

A methodical approach to research and experimentation that seeks to understand natural phenomena through observation, experimentation, and data analysis.