Examlex
Suppose that a worker in Boatland can produce either 5 units of wheat or 25 units of fish per year,and a worker in Farmland can produce either 25 units of wheat or 5 units of fish per year.There are 10 workers in each country.Political pressure from the fish lobby in Farmland and from the wheat lobby in Boatland has prevented trade between the two countries on the grounds that cheap imports would kill the fish industry in Farmland and the wheat industry in Boatland.As a result,Boatland produces and consumes 25 units of wheat and 125 units of fish per year while Farmland produces and consumes 125 units of wheat and 25 units of fish per year.If the political pressure were overcome and trade were to occur,each country would completely specialize in the product in which it has a comparative advantage.If trade were to occur,the combined output of the two countries would increase by
Market Researcher
A professional who analyzes market conditions to determine potential sales of a product or service, identifies target demographics, and gauges the competition.
Customer Service Representative
An employee who interacts with customers to handle complaints, process orders, and provide information about products and services.
Personal Interviews
A direct method of qualitative research involving face-to-face conversations for the purpose of obtaining detailed information.
Tabulates Data
The process of organizing data into tables or charts for easier analysis and better understanding.
Q118: A technological advance in the production of
Q165: If a country has the comparative advantage
Q179: Refer to Table 3-4. The rancher has
Q205: If, at the current price, there is
Q217: A group of buyers and sellers of
Q278: The concept of slope can be used
Q308: You have been asked by your economics
Q366: Refer to Figure 2-14. If this economy
Q378: If a good is normal, then an
Q437: Refer to Figure 3-7. If Bintu and