Suppose Chile Has a Lower Opportunity Cost in Producing Salmon

question 52

Multiple Choice

Suppose Chile has a lower opportunity cost in producing salmon than South Korea,and South Korea has a lower opportunity cost in producing cars than Chile,then Chile has:

• A) An absolute advantage in producing both salmon and cars.
• B) A comparative advantage in producing both salmon and cars.
• C) A comparative advantage in producing cars,while South Korea has a comparative advantage in producing salmon.
• D) A comparative advantage in producing salmon,while South Korea has a comparative advantage in producing cars.

---

Definitions:

Survival Needs

Basic requirements necessary for humans to live and function, such as air, water, food, shelter, and safety.

Maslow's Hierarchy

Maslow's hierarchy is a theory in psychology proposed by Abraham Maslow, which outlines a five-tier model of human needs, arranged in a hierarchical order from physiological needs to self-actualization.

Organization

An entity comprising multiple people, such as a company or society, organized for a particular purpose.

Fulfillment Needs

Psychological or emotional needs that, when satisfied, lead to a sense of fulfillment or happiness, as conceptualized in theories of motivation such as Maslow's hierarchy of needs.