This Table Shows How Much Wine and Cheese Can Be

question 79

Multiple Choice

This table shows how much wine and cheese can be produced in Spain and Portugal with one unit of equivalent resources.Initially there is no trade.Once trade opens up,transportation costs are assumed to be zero.
TABLE 32-5
-Refer to Table 32-5.The opportunity cost of cheese in terms of wine is

• A)1/4 in Spain.
• B)4 in Spain.
• C)2 in each country.
• D)3/2 in Portugal.
• E)3 in Portugal.

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Definitions:

Moral Principle

Fundamental beliefs about what is right and wrong that guide an individual's behavior and decision-making.

Reasoning Principle

A fundamental aspect of human thought that involves drawing conclusions or making inferences based on premises.

Pleasure Principle

is a psychoanalytic concept suggesting that people seek pleasure and immediate gratification of needs to avoid pain, guiding the id's desires.

Psychosexual Development

Freud's theory on the stages of psychological development from infancy to adulthood, focusing on how early life sexual urges shape personality.