Table 2-9 Table 2-9 Shows the Number of Labor Hours

question 119

Multiple Choice

Table 2-9
Table 2-9 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
-Refer to Table 2-9.Japan has a comparative advantage in the production of

• A)rice.
• B)wristwatches.
• C)both products.
• D)neither product.

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Definitions:

Discretionary Responsibility

Actions taken by a company that are purely voluntary and guided by its desire to make social contributions not mandated by economics, law, or ethics.

Termination-At-Will

An employment arrangement where either the employer or the employee can end the employment relationship without any prior notice and for any reason, except for those prohibited by law.

Union Participation

The involvement or membership of workers in a labor union, which represents their interests in negotiations with employers.

Sales Personnel

Employees or members of an organization responsible for selling its products or services to customers.