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

question 47

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 rice,Japan is said to have a(n) :

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

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Definitions:

Future Managers

Individuals who are being prepared or trained to hold managerial positions in the future.

Small Firms

Businesses characterized by a limited number of employees, revenue, or assets, often identified by their flexible operations and personalized customer interactions.

Competitive Today

The state of being able to maintain an edge over rivals in the current market through strategies, practices, and innovations.

Product/Service Quality

The degree to which a product or service meets or exceeds customer expectations in terms of performance, reliability, and satisfaction.