Table 24 Table 2

question 166

Multiple Choice

Table 2.4 Table 2.4 shows the output per week of two jewellers, Serena and Haley.They can either devote their time to making bracelets or making necklaces.
-Refer to Table 2.4.Which of the following statements is true?

• A)Haley has an absolute advantage in making both products.
• B)Serena has an absolute advantage in making both products.
• C)Haley has an absolute advantage in making bracelets and Serena in making necklaces.
• D)Haley has an absolute advantage in making necklaces and Serena in making bracelets.

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Definitions:

Trading Investments

Financial assets that a company intends to buy and sell within a short time frame, typically to capitalize on short-term market movements.

Historical Cost

The original monetary value of an asset or investment at the time of its acquisition or payment, not adjusted for inflation or market changes.

Market Value

The existing market price for buying or selling an asset or service.

Net Realizable Value

The value of an asset that can be realized upon its sale minus a reasonable estimate of the costs associated with either its sale or disposal.