Table 2-9 Table 2-9 Shows the Number of Labor Hours

question 36

Multiple Choice

Table 2-9
Table 2-9 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
-Refer to Table 2-9.If the two countries specialize and trade,who should export wristwatches?

• A)There is no basis for trade between the two countries.
• B)Japan
• C)Thailand
• D)They should both be importing wristwatches.

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Definitions:

Government Regulation

The act of controlling, directing, or managing activities, industries, or entities by a governing body.

Business Law

A branch of law that deals with the rights, relations, and conduct of individuals and businesses engaged in commerce, merchandising, trade, and sales.

Corporations

Legal entities that are separate from their owners, with the ability to own assets, incur liabilities, and conduct business.

Liable

Legally responsible or obligated.