Which of the Following Best Describes the Comparative Advantage of the Two

question 22

Multiple Choice

Which of the following best describes the comparative advantage of the two countries illustrated in Figure 35.1?

• A)Japan has a comparative advantage in both goods.
• B)Japan has a comparative advantage in DVD players,the United States in motorcycles.
• C)Japan has a comparative advantage in motorcycles,the United States in DVD players.
• D)The United States has a comparative advantage in both goods.

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Definitions:

Necessity-based Entrepreneurship

Entrepreneurial activities initiated out of a need rather than a desire for opportunity, often due to lack of traditional employment options.

Public Waste Management

involves the systems and processes in place to handle, treat, and dispose of waste generated by the public in an environmentally responsible manner.

Business Expertise

The specialized knowledge or skills in managing and operating a business efficiently and effectively.

Family Business

A commercial organization in which decision-making is influenced by multiple generations of a family related by blood or marriage who are closely involved with its operations.