Scenario: Consider Two Economies, Beta and Zeta

question 53

Multiple Choice

Scenario: Consider two economies, Beta and Zeta. Each farmer in Beta can grow 1,000 pounds of apples or 500 pounds of oranges in a year. Each farmer in Zeta can grow 400 pounds of apples or 1,200 pounds of oranges in a year.
-Refer to the scenario above.Which of the following statements is true in this case?

• A) Beta has both comparative and absolute advantage in producing apples.
• B) Zeta has both comparative and absolute advantage in producing apples.
• C) Beta has a comparative advantage in producing oranges and absolute advantage in producing apples.
• D) Zeta has a comparative advantage in producing apples and absolute advantage in producing oranges.

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Definitions:

Personal Control

The perceived degree of influence an individual has over their environment and decisions affecting their life.

Perspective Clients

Potential customers who are viewed from a specific standpoint, often considering their needs and how a product or service can meet those needs.

Major Policy Changes

Substantial alterations in the rules or guidelines that govern an organization or society's operations.

Floor Representative

An individual chosen to represent the interests or concerns of a group in a designated area, such as in legislative bodies or residential communities.