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

question 133

Multiple Choice

Table 2-11

Table 2-11 shows the number of labor hours required to produce a motorcycle and a guitar in Ireland and Scotland.
-Refer to Table 2-11.If the two countries specialize and trade, who should export guitars?

• A)There is no basis for trade between the two countries.
• B)Ireland
• C)Scotland
• D)They should both be exporting guitars.

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Definitions:

Retail Sales

The total revenue received by retailers from selling goods and services to consumers, often used as an economic indicator.

Store Renovations

The process of making improvements or modifications to a retail space to enhance its appearance or functionality.

GST

Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

Sound System

A collection of electronic components designed to produce, amplify, and deliver audio signals.