Table 3-3 -Refer to Table 3-3.Montana Has an Absolute Advantage in

question 85

Multiple Choice

Table 3-3

-Refer to Table 3-3.Montana has an absolute advantage in

• A)birdhouses and Missouri has an absolute advantage in baskets.
• B)baskets and Missouri has an absolute advantage in birdhouses.
• C)neither good and Missouri has an absolute advantage in both goods.
• D)both goods and Missouri has an absolute advantage in neither good.

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Definitions:

Merit Pay Plan

A compensation strategy that rewards employees based on their performance and achievements rather than their position or seniority.

Unethical Behaviour

Actions that violate moral or professional standards of conduct.

Merit Pay Plans

Compensation strategies that award pay increases or bonuses to employees based on their performance or achievements.

Scanlon Plan

A type of gain-sharing program that incentivizes employees to improve productivity through teamwork and suggestions, sharing the resultant cost savings among employees and management.