Figure 9-14

question 149

Multiple Choice

Figure 9-14.On the diagram below,Q represents the quantity of crude oil and P represents the price of crude oil.
-Refer to Figure 9-14.The country for which the figure is drawn

• A)has a comparative advantage relative to other countries in the production of crude oil and it will export crude oil.
• B)has a comparative advantage relative to other countries in the production of crude oil and it will import crude oil.
• C)has a comparative disadvantage relative to other countries in the production of crude oil and it will export crude oil.
• D)has a comparative disadvantage relative to other countries in the production of crude oil and it will import crude oil.

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Definitions:

Maslow's Hierarchy

A psychological theory proposing that human needs are arranged in a hierarchy, with basic needs like safety and physiological needs at the bottom, and self-actualization at the top.

Shelter

A place giving temporary protection from bad weather or danger.

Achievement

Success or attainment reached through effort, skill, or courage.

PhD

A Doctor of Philosophy degree, a postgraduate academic degree awarded by universities.