If a Nation Can Produce a Good or Service at the Lowest

question 147

Multiple Choice

If a nation can produce a good or service at the lowest opportunity cost,then it

• A) can sell the product at a lower price than other nations.
• B) does not want to export the good because the low cost means it makes only a low profit.
• C) is best for the nation to not trade the good internationally.
• D) will definitely import the good because it can beat other countries' prices.
• E) might export or import the good, depending on whether or not it has a comparative advantage in the production of the good.

Identify the ASME standard and its importance in mechanical engineering.

Understand how tolerances affect the flexibility of part assembly.

Grasp the concept and application of tolerance zones in positional tolerancing.

Understand the differences between bilateral and unilateral tolerances.

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