Exhibit 2-1 -According to Exhibit 2-1, in Any Given Amount of Time

question 59

Multiple Choice

Exhibit 2-1

-According to Exhibit 2-1, in any given amount of time,

• A)Maria has an absolute and a comparative advantage in typing
• B)Maria has an absolute and a comparative advantage in doing laundry
• C)Maria has a comparative advantage in both typing and doing laundry
• D)Hans has an absolute and a comparative advantage in typing
• E)Hans has an absolute advantage in doing laundry

---

Definitions:

In Transit

Refers to goods or individuals that are in the process of being transported from one location to another.

Nonconforming Goods

Refers to products or goods delivered under a contract that fail to meet the specifications or standards agreed upon.

Acceptance

The act of agreeing to the terms of an offer, thus creating a binding contract between the parties.

Buyer

An individual or entity that purchases goods or services from a seller for money or other agreed consideration.