The Names for Numbers 11 and 12 Are Dissimilar to the Names

question 7

Multiple Choice

The names for numbers 11 and 12 are dissimilar to the names for the numbers 1 and 2 in:

• A) all languages
• B) English
• C) Chinese
• D) Eskimo

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Definitions:

Opportunity Cost

The omission of possible gains that could come from different options when one is preferred.

Comparative Advantage

The competence of an individual, firm, or nation to forge a good or render a service with a lower forfeited opportunity compared to others in the market.

Productivity

A measure of the efficiency of production, usually defined as the ratio of outputs produced to inputs used.

Opportunity Costs

The cost of foregoing the next best alternative when making a decision or choosing one option over another.