Table 2-16 -Refer to Table 2-12.This Table Shows the Number of Labor

question 71

Essay

Table 2-16

-Refer to Table 2-12.This table shows the number of labor hours required to produce a digital camera and a bushel of wheat in China and South Korea.
a.Which country has an absolute advantage in the production of digital cameras?
b.Which country has an absolute advantage in the production of wheat?
c.What is China's opportunity cost of producing one digital camera?
d.What is South Korea's opportunity cost of producing one digital camera?
e.What is China's opportunity cost of producing one bushel of wheat?
f.What is South Korea's opportunity cost of producing one pound of wheat?
g.If each country specializes in the production of the product in which it has a comparative advantage, who should produce digital cameras?
h.If each country specializes in the production of the product in which it has a comparative advantage, who should produce wheat?

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Definitions:

Universal Job Design

A conceptual approach to creating jobs that can be effectively and efficiently performed by a wide variety of individuals.

Job Characteristics Theory

A theory that suggests that the nature of a job itself affects employees' motivation, satisfaction, and performance, identifying five core job dimensions that impact these outcomes.

Job Rotation

A human resources strategy where employees rotate between various jobs at the same business to gain experience and skills across different roles and departments.

Cash Register

An electronic or mechanical device used in retail environments to calculate and record sales transactions, and to store cash.