Table 2.2.Output Possibilities for South Korea and Japan

question 38

Multiple Choice

Table 2.2.Output possibilities for South Korea and Japan

-Refer to Table 2.2.According to the principle of absolute advantage,Japan should:

• A) Export steel
• B) Export VCRs
• C) Export steel and VCRs
• D) None of the above; there is no basis for gainful trade

Identify and explain the impact of pragmatics on social interactions and communication.

Recognize cultural influences on language development.

Understand the prevalence and implications of grade retention in the U.S. educational system.

Associate literacy skills with social development and peer relationships.

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Definitions:

Want

A desire or wish for something that is not necessarily needed but is desired by an individual.

Stimulus-Response Model

A concept in psychology and marketing that suggests a direct link between an external stimulus and a predictable response from an organism or individual.

Buyer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts these processes have on the consumer and society.

Organizational Buying Process

The decision-making route that businesses follow to acquire products or services, from recognizing the need to final purchase.