-Refer to Table 3-2

question 42

Multiple Choice

-Refer to Table 3-2. What does each producer have a comparative advantage in?

• A) The rancher has a comparative advantage in neither good, and the farmer has a comparative advantage in both goods.
• B) The rancher has a comparative advantage in both goods, and the farmer has a comparative advantage in neither good.
• C) The rancher has a comparative advantage in meat, and the farmer has a comparative advantage in potatoes.
• D) The rancher has a comparative advantage in potatoes, and the farmer has a comparative advantage in meat.

Recognize the impact of personality traits and personal values on individual behavior and decision-making.

Identify factors that cause stress for individuals and understand the concept of coping mechanisms.

Explain the role of diversity in the workplace and the importance of supporting it.

Describe the dimensions of national culture according to Geert Hofstede and their implications for organizations.

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Definitions:

Average Sale Period

A financial metric measuring the average time it takes for a company's inventory to turn into sales, often seen as part of inventory turnover analysis.

Price-earnings Ratio

A valuation metric that compares a company's current share price to its per-share earnings.

Dividend Payout Ratio

A financial metric that measures the percentage of a company's earnings paid out to shareholders as dividends, indicating how much money a company returns to shareholders versus how much it keeps to reinvest.

Gross Margin Percentage

A profitability metric calculated as gross margin (sales minus cost of goods sold) divided by sales, expressed as a percentage.