The Following Table Shows the Units of Output a Worker

question 78

Multiple Choice

The following table shows the units of output a worker can produce per month in country A and country B.
The opportunity cost of 1 unit of electronics in country A is

• A)4 units of food.
• B)3 units of food.
• C)2 units of food.
• D)all of these.

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Definitions:

Production Budget

An estimation of the costs associated with the production process, including raw materials, labor, and overhead expenses, for a specific period.

Production Budget

A financial plan that estimates the number of units to be produced to meet sales goals and inventory requirements.

Sales Budget

A financial plan that estimates the revenue from sales for a future period, taking into account factors like historical sales data, market trends, and seasonality.

Master Budget

A comprehensive financial plan made up of several smaller and specific budgets, combining them into one overarching budget.