Figure 16-5 Quantities of Goods That Can Be Produced in One Day

question 114

Multiple Choice

Figure 16-5
Quantities of goods that can be produced in one day with available resources:

-In Figure 16-5,which of the following is true?

• A)Both countries can benefit from trade if Panama produces bicycles and Costa Rica produces rugs.
• B)Both countries can benefit from trade if Panama produces both rugs and bicycles.
• C)Both countries can benefit from trade if Panama produces rugs and Costa Rica produces bicycles.
• D)Both countries can benefit from trade if Costa Rica produces bicycles and rugs.
• E)Neither country can benefit from trade since Panama has an absolute advantage in producing both bicycles and rugs.

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Definitions:

Scientific Research

Scientific research is the systematic investigation into and study of materials, sources, and phenomena using scientific methods to establish facts, reach new conclusions, and develop new knowledge.

Anthropology

The scientific study of humans, human behavior and societies in the past and present.

Research Conclusions

The outcomes or findings derived from systematic investigation into a subject of study.

Validity

The degree to which a method, test, or measurement accurately reflects what it is intended to assess.