Table 2-4 Table 2-4 Shows the Number of Labor Hours Required to of Labor

question 30

Multiple Choice

Table 2-4

Table 2-4 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 2-4.If the two countries specialize and trade,who should export digital cameras?

• A) There is no basis for trade between the two countries.
• B) China
• C) South Korea
• D) They should both be importing digital cameras.

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Definitions:

Economic Opportunities

Prospects for meaningful work, entrepreneurship, or investment that can potentially yield financial gain and improve one’s economic status.

Personal Level

Refers to experiences or actions that are specific to an individual and their immediate personal life or circumstances.

Constraints

Factors or conditions that limit the options available to individuals or systems, shaping their decisions and actions.

Group Behavior

Group behavior refers to the ways in which individuals behave and interact when they are part of a group, influenced by the norms, values, and dynamics within the group.