The Table Given Below Represents Butter and Ham Production by Two

question 75

Multiple Choice

The table given below represents butter and ham production by two countries Norway and Sweden.Table 2.5

-Refer to Table 2.5 and identify the correct statement.

• A)Norway has an absolute advantage in butter production.
• B)Sweden has a comparative advantage in ham production.
• C)Norway has an absolute advantage in ham production.
• D)Trade is not possible between these two nations.
• E)It would be advantageous for Sweden to trade with Norway.

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Definitions:

Cheques

Cheques are written orders to a bank to pay the specified amount from the drawer's account to the payee or their account.

Delay Times

Periods of waiting or postponement in processes or transactions, often affecting project timelines or service delivery.

Amounts

Quantitative measures or sums of items, whether in abstract numbers, quantities of material, or monetary values.

Net Present Value

Net Present Value is a method used in capital budgeting to assess the profitability of an investment, measuring the difference between the present value of cash inflows and outflows.