The Chart Below Refers to the Economy of Smith Island

question 58

Multiple Choice

The chart below refers to the economy of Smith Island.

-Refer to the graph above to answer this question.What is the world (free trade) price of cloth?

• A)$40.
• B)$50.
• C)$60.
• D)$80.

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Definitions:

Formal-Operations

A stage in Piaget's theory of cognitive development, typically beginning around age 12, where individuals start to use abstract and logical thinking.

Concrete-Operations

A stage in Piaget's theory of cognitive development where children gain the ability to think logically about concrete events.

Preoperational Child

Refers to the stage in Piaget’s theory of cognitive development (ages 2-7) where children begin to use language and think symbolically, but their thinking is still intuitive and egocentric.

Conservation

The principle of saving natural resources to prevent depletion and harm to the environment.