If the ________ Cost of Production for Two Goods Is

question 47

Multiple Choice

If the ________ cost of production for two goods is different between two countries then mutually beneficial trade is possible.

• A)marginal
• B)explicit
• C)opportunity
• D)implicit

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Definitions:

Self-Efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments, influencing how goals, tasks, and challenges are approached.

Grit

A personality trait characterized by perseverance and passion for long-term goals.

External Motivation

is the push or drive to perform a task or engage in an activity due to factors outside oneself, such as rewards or the avoidance of negative consequences, effectively a synonym for extrinsic motivations with an emphasis on its external nature.

Need to Belong

The inherent human drive to seek connections and interactions with others, considered a fundamental motivational force.