Hayden Is Explaining the Rules of His New Computer Game

question 46

Multiple Choice

Hayden is explaining the rules of his new computer game to Shane.The information about the rules is being retrieved from Hayden's

• A) prospective memory.
• B) declarative memory.
• C) procedural memory.
• D) implicit memory.

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Definitions:

Heckscher-Ohlin Theory

An economic theory that suggests countries export what they can most efficiently and abundantly produce, based on factors of production like land, labor, and capital.

Absolute Advantage

The ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.

Comparative Advantage

The skill of an entity, whether a person, corporation, or country, to create a product or service with smaller opportunity costs than its competition.

Absolute Advantage

Absolute advantage is the ability of a country or entity to produce a good or service more efficiently than others, using fewer resources.