-Consider Table 18

question 15

Multiple Choice

-Consider Table 18.1.In autarky,the price of fish in terms of chips is __________ in the West,and in the East the price is __________;therefore,the West has a comparative advantage in __________.

• A)2;3;fish
• B)3;2;chips
• C)2;3;chips
• D)1/2;1/3;fish
• E)Not enough information is given.

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Definitions:

Supply Chain

A network of businesses involved in the production, delivery, and sale of a product, from the initial raw materials to the final consumer.

Product Life Cycle

The phases a product experiences from its launch, to its growth, peak, and eventual decrease in the marketplace.

Supply-Chain Management

The coordination and management of a network of interconnected businesses involved in the provision of product and service packages required by the end customers.

Purchased

The act of acquiring goods or services in exchange for money or its equivalent.