If Two Countries Each Produce Wool and Cotton,the Country with the Lower

question 57

Multiple Choice

If two countries each produce wool and cotton,the country with the lower opportunity cost for cotton (in terms of wool) will also have

• A)a comparative advantage in the production of wool.
• B)a comparative advantage in the production of cotton.
• C)an absolute advantage in the production of wool.
• D)an absolute advantage in the production of cotton.
• E)an absolute advantage in the production of both wool and cotton.

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Computer programs that allow storage, modification, and extraction of information from a database.

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Supply Chain Information Systems; technology and software tools designed to enhance visibility, efficiency, and management of the supply chain from procurement to delivery.

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The use of computers, software, and networks to store, process, and communicate information digitally for business operations.

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The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness.