Use This Table of Conversion Factors to Help You Answer

question 7

Multiple Choice

Use this table of conversion factors to help you answer the following questions. 40 kg = _____ lb

• A) 83.9
• B) 105
• C) 112
• D) 72.8
• E) 88

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Definitions:

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen; the value of the next best alternative foregone.

Specialization

The process of focusing on and becoming expert in a particular subject or skill.

Production

The process of creating goods and services by combining labor, land, and capital to generate output.

Comparative Advantage

A person's, corporation's, or country's capability to manufacture a good or provide a service with a smaller opportunity cost than that of its competitors.