Table 2-4 Table 2-4 Shows the Output Per Day of Day

question 225

Multiple Choice

Table 2-4
Table 2-4 shows the output per day of two gardeners,George and Jack.They can either devote their time to mowing lawns or cultivating gardens.
-Refer to Table 2-4.What is Jack's opportunity cost of mowing a lawn?

• A)one-half of a garden cultivated
• B)two lawns mowed
• C)two-thirds of a garden cultivated
• D)one and a half lawns mowed

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Definitions:

Labor-Intensive

Describing a process or industry that requires a large amount of labor to produce goods or services compared to the amount of capital used.

Labor-Abundant

Referring to a country or region that has a large supply of labor relative to capital.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to more efficient trade possibilities.

Labor-Intensive

Characterized by a high proportion of labor relative to capital in the production process.