If Korea Is Capable of Producing Either Shoes or Soccer

question 108

Multiple Choice

If Korea is capable of producing either shoes or soccer balls or some combination of the two,then

• A)Korea should specialize in the product in which it has an absolute advantage.
• B)it would be impossible for Korea to have an absolute advantage over another country in both products.
• C)it would be difficult for Korea to benefit from trade with another country if Korea is efficient in the production of both goods.
• D)Korea's opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.

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Definitions:

First Quartile

The first quartile is a statistical measure that divides a data set into four equal parts, representing the value below which 25% of the data falls.

Hours

Units of time equivalent to 60 minutes, commonly used to measure durations and periods of the day.

Playing Video Games

The activity of engaging in games that involve interaction with a user interface to generate visual feedback on a display device.

Lower Quartile

A statistical measure indicating the value below which 25% of the observations in a dataset fall.