Table 19-12
Output Per Hour Production and Production
of Work

question 413

Multiple Choice

Table 19-12
Output per hour Production and Production
of work Consumption without Trade with Trade
$\begin{array}{|c|c|c|c|c|c|c|}\hline & \text { Swords } & \text { Belts } & \text { Swords } & \text { Belts } & \text { Swords } & \text { Belts } \\\hline \text { Estonia } & 5 & 3 & 100 & 40 & 200 & 0 \\\hline \text { Morocco } & 2 & 2 & 60 & 60 & 0 & 120 \\\hline\end{array}$ Estonia and Morocco can produce both swords and belts. Each country has a total of 40 available labor hours for the production of swords and belts. Table 19-12 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 19-12.What is the opportunity cost to produce 1 sword in Morocco?

• A) 1/2 of a belt
• B) 1 belt
• C) 1.5 belts
• D) 2 belts

Articulate the impact of consumer hyperchoice on decision making.

Understand habitual decision making and its implications on consumer behavior.

Explain the behavioural influence perspective and its effect on impulse buying.

Discuss the concept of limited problem solving in consumer decision making.

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Definitions:

Marketing Unit

A division or team within an organization that focuses on marketing strategies, operations, and activities to promote products or services.

Aggressively

Taking bold and forceful actions, often in a competitive context, to achieve particular objectives or goals.

Principle Agency Problem

A situation in corporate governance where the interests of principals (owners) diverge from those of agents (managers), leading to potential conflicts.

Incentive

A benefit or reward intended to motivate or encourage a specific action or behavior in economic or organizational contexts.