Table 2.6 Table 2.6 Shows the Number of Labour Hours Required to of Labour

question 138

Multiple Choice

Table 2.6

Table 2.6 shows the number of labour hours required to produce a digital camera and a kilo of wheat in China and South Korea.
-Refer to Table 2.6. If the two countries specialise and trade, who should export digital cameras?

• A)There is no basis for trade between the two countries.
• B)China
• C)South Korea
• D)They should both be importing digital cameras.

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Definitions:

Workforce Rightsizing

The process of adjusting the size of a company's workforce to match its current needs.

Infrastructure Costs

Expenses associated with the basic physical and organizational structures needed for the operation of a society or enterprise, such as roads, utilities, and buildings.

Fixed Assets

Long-term tangible assets held by an organization for producing goods or services, not expected to be converted to cash in the short term.

Contingent Workforce

A labor pool consisting of individuals hired by an organization on a non-permanent basis, such as freelancers, contractors, or temporary workers.