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

question 142

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.Thailand has a comparative advantage in the production of

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

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Definitions:

Preference

The favoring of one option over others, influenced by factors such as values, desires, and needs.

Autokinetic Effect

A phenomenon in which a stationary, small point of light in a dark room appears to move because of involuntary eye movements.

Normative Influence

The impact of societal norms and standards on an individual's behavior, often driving conformative actions.

Social Roles

Expected behaviors, duties, and rights associated with each social position, shaping how individuals in those roles are supposed to act.