Both Bill and Mary Produce T-Shirts and Hats

question 416

Multiple Choice

Both Bill and Mary produce t-shirts and hats.If Bill's opportunity cost of 1 t-shirt is 4 hats and Mary's opportunity cost of 1 t-shirt is 3 hats,then

• A) Bill has a comparative advantage in the production of t-shirts.
• B) Mary has a comparative advantage in the production of t-shirts.
• C) Mary has a comparative advantage in the production of hats.
• D) Bill has a comparative advantage in the production of both t-shirts and hats.

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Definitions:

Self-actualizers

Individuals who achieve the highest level of personal growth and fulfillment, according to Maslow's hierarchy of needs.

Metaneeds

Higher-level psychological needs described by Abraham Maslow, such as self-actualization, beyond basic physiological and safety needs.

Deficiency Needs

Basic requirements for physical and psychological well-being, as defined by Abraham Maslow, including needs for safety, love, and esteem, which must be met before an individual can achieve self-actualization.

Self-actualized Persons

Individuals who have realized and fulfilled their potential, as described in Maslow's hierarchy of needs, achieving personal growth and self-fulfillment.