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

question 132

Multiple Choice

Table 2-4

Table 2-4 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland.
-Refer to Table 2-4.If the two countries specialize and trade,who should export lumber?

• A) There is no basis for trade between the two countries.
• B) Estonia
• C) Finland
• D) They should both be exporting lumber.

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Definitions:

Client Satisfaction

An evaluation of the extent to which a company's goods and services exceed or fulfill the anticipations of its customers.

Labour Expenses

Costs associated with hiring and compensating employees, including wages, benefits, and taxes.

Surveying Clients

Collecting feedback or opinions from customers or clients through questionnaires or interviews to improve services, products, or customer relationships.

Added Value

The enhancement a company gives its product or service before offering it to customers, increasing its worth.