Table 2-4 Table 2-4 Shows the Number of Labor Hours Required to of Labor

question 80

Multiple Choice

Table 2-4

Table 2-4 shows the number of labor hours required to produce a digital camera and a pound of wheat in China and South Korea.
-Refer to Table 2-4.Does either China or South Korea have an absolute advantage and if so,in what product?

• A) South Korea has an absolute advantage in wheat.
• B) China has an absolute advantage in wheat.
• C) South Korea has an absolute advantage in both products.
• D) China has an absolute advantage in digital cameras.

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Definitions:

Manufacturers

Entities or individuals engaged in the production of goods for sale, typically involving the use of tools, machines, and labor.

Causation

The demonstration of a cause-and-effect relationship, particularly in legal contexts to prove fault or liability.

Tort

An act of wrongdoing that results in damage or injury to a plaintiff, thus creating a legal responsibility for the individual responsible for committing the act.

Court

A judicial institution with the authority to hear and resolve disputes, apply the law, and administer justice.