TABLE 1.1 Use the Information in the Table to Answer the Following

question 2

Multiple Choice

TABLE 1.1
Use the information in the table to answer the following question(s) .

-Refer to Table 1.1. If each country specializes in their production with Austria producing only digital cameras and Russia producing only snowboards, at a trading rate of three snowboards per digital camera, how many cameras and snowboards will be available to be consumed in Austria if they trade 3,000 cameras to Russia?

• A) 9,000 snowboards and 5,000 digital cameras
• B) 3,000 snowboards and 3,000 digital cameras
• C) 3,000 snowboards and 9,000 digital cameras
• D) There is not enough information to answer this question.

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Definitions:

Product Differentiation

The process used by businesses to distinguish their products from similar offerings by competitors to attract a specific target market.

Coke

A carbonated soft drink that is produced by The Coca-Cola Company, or a fuel made by heating coal or oil in the absence of air.

Price Fixing

An illegal agreement between participants in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain market conditions so that the price is maintained.

Cooperative Behavior

Actions taken by individuals or organizations that are designed to benefit others or achieve a common goal through collaboration.