Japan Is More Efficient in the Production of Rice,and the United

question 44

Multiple Choice

Japan is more efficient in the production of rice,and the United States is more efficient in the production of oranges.In the production of oranges,the United States is said to have a(n) :

• A)comparative advantage
• B)absolute disadvantage
• C)absolute advantage
• D)comparative disadvantage

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Definitions:

Standard Hour Plans

Compensation systems where employees are paid a set rate for each unit of time worked, calculating earnings based on the number of hours worked at a predetermined rate.

Automobile Dealerships

Businesses that specialize in selling new or used cars at the retail level, often under a dealership contract with an automaker.

Straight Piecework

An incentive plan under which employees receive a certain rate for each unit produced.

Unit Produced

A measure of output that quantifies the total amount of goods or services produced by an individual, team, or organization within a given timeframe.