Figure 16-3 Quantities of Goods That Can Be Produced in One Day

question 59

Multiple Choice

Figure 16-3
Quantities of goods that can be produced in one day with available resources:

-In Figure 16-3,if Costa Rica and Panama have identical resources,then Panama has a(n)

• A)absolute advantage only in producing bicycles
• B)comparative advantage in producing both bicycles and rugs
• C)absolute advantage only in producing rugs
• D)comparative advantage only in producing rugs
• E)absolute advantage in producing both rugs and bicycles

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Definitions:

Ethnic Subcultures

Groups within a larger culture that have distinct characteristics related to ethnicity, such as language, traditions, or cultural practices.

Multiculturalism

Multiculturalism is the acknowledgment, acceptance, and promotion of diverse cultural backgrounds within a society, emphasizing their contributions to the enrichment of the communal fabric.

Cultural Diversity

The presence of various cultural or ethnic groups within a society or organization, enriching its social fabric.

Pluralism

A condition or system where multiple groups, cultures, or entities coexist within a society and maintain their differences.