Which of the Following Countries Exemplifies the Concept of Opportunity

question 159

Multiple Choice

Which of the following countries exemplifies the concept of opportunity cost?

• A) An African country that produces electronic goods on a large scale without compromising on any other produce
• B) A South American country that expands its trade relations to neighboring countries
• C) A European country that produces more cotton than a North American country despite having equal resources
• D) An Asian country that increases its production of sugar by decreasing its production of cocoa

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Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period of time.

Telephone Expense

Costs incurred by a business for the use of telephone services.

Fees Earned

Revenue generated from services provided by a company or an individual.

Statement Of Owner's Equity

A financial document that shows the changes in the equity section of the balance sheet over a reporting period, including contributions, withdrawals, and earnings.