Table 2-11 Table 2-11 Shows the Number of Labor Hours

question 187

Multiple Choice

Table 2-11
Table 2-11 shows the number of labor hours required to produce a digital camera and a pound of wheat in China and South Korea.
-Refer to Table 2-11. China has a comparative advantage in the production of

• A) wheat.
• B) digital cameras.
• C) both products.
• D) neither product.

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Definitions:

Partnership

A form of business organization defined by the Uniform Partnership Act as “an association of two or more persons who carry on as co-owners of a business for profit.”

Strikebreaking

The act of using non-union workers to replace striking employees in order to keep an organization operational during a labor strike.

Productivity

The measure of efficiency in which goods and services are produced, often evaluated by the output per unit of input.