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Table 194
Output Per Hour of Work Table 194 Shows the Output Per Hour of Work for Handbags

question 9

Essay

Table 19.4
Output per Hour of Work
 Handbags  Jackets  Cambodia 153 Thailand 246\begin{array} { | l | c | c | } \hline & \text { Handbags } & \text { Jackets } \\\hline \text { Cambodia } & 15 & 3 \\\hline \text { Thailand } & 24 & 6 \\\hline\end{array} Table 19.4 shows the output per hour of work for handbags and jackets in Cambodia and in Thailand.
-Refer to Table 19.4.
a.Which country has an absolute advantage in the production of handbags and jackets?
b.Which country has a comparative advantage in the production of handbags?
c.Which country has a comparative advantage in the production of jackets?


Definitions:

Contractual Arrangement

An agreement between two or more parties that is enforceable by law.

Loss of Control

Refers to the event where an entity no longer has the power to govern the financial and operating policies of another entity to obtain benefits from its activities.

Other Comprehensive Income

Other comprehensive income includes revenues, expenses, gains, and losses that are not included in net income and are directly recorded to equity, reflecting the company's total comprehensive income.

AASB 127

A standard issued by the Australian Accounting Standards Board that deals with consolidated and separate financial statements.

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