Assume That Only Two Countries, a and B, Exist

question 38

Multiple Choice

Assume that only two countries, A and B, exist.

-Refer to the table above. You are told that Country B is very much larger than country A. The correct answer is

• A) country B will export good S.
• B) country A will export good S.
• C) both countries will export good S.
• D) trade will not occur between these two countries.
• E) both countries will import good S.

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Definitions:

Manufacturer

An individual or company involved in the process of making goods for sale through the use of raw materials, components, or assemblies.

Schedule

A detailed plan that lists activities, tasks, or events with their intended timeframes.

Cost Of Goods Manufactured

The cost of goods manufactured is the total production cost of goods completed during a specific period, including labor, materials, and overhead.

Beginning Finished Goods Inventory

The value of a company's completed products ready for sale at the start of an accounting period.