The Data in the Table Below Assumes That with the Same

question 105

Multiple Choice

The data in the table below assumes that with the same quantity of resources, both Australia and Philippines produces food and computers. Australia can make 1,000 computers or 2,000 units of food in a day, and the Philippines can make 200 computers or 1,200 units of food in a day.Table 20.2

-According to Table 20.2, what is the opportunity cost of 1 computer in the Philippines?

• A)6 units of food
• B)Three-fifths of a unit of food
• C)One-sixth of a unit of food
• D)2 units of food
• E)1 unit of food

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Definitions:

Credit

Refers to the trust allowing one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately but promises either to repay or return those resources at a later date.

Supplier

A person or organization that provides goods or services to another entity, typically as part of a supply chain.

Cash

Currency and other liquid instruments in a financial system or on a company's balance sheet used for transactions or settling debts.

Inventory

The goods and materials that a business holds for the purpose of resale or production.