Table 13 Shows the Hypothetical Trade-Off Between Different Combinations of Brushes

question 137

Multiple Choice

Table 1.3 shows the hypothetical trade-off between different combinations of brushes and combs that might be produced in a year with the limited capacity for Country X, ceteris paribus.Complete the table by calculating the required opportunity costs for brushes and combs.
$\begin{array}{|c|c|c|c|c|c|}\hline & \begin{array}{c}\text { Number } \\\text { of } \\\text { Brushes }\end{array} & \begin{array}{c}\text { Opportunity Cost } \\\text { of Brushes in } \\\text { Terms } \\\text { of Combs }\end{array} & \begin{array}{c}\text { Number } \\\text { of Combs }\end{array} & \begin{array}{c}\text { Opportunity Cost } \\\text { of Combs in Terms } \\\text { of Brushes }\end{array} \\\hline \mathrm{J} & 0 & & 4 & \\\hline \mathrm{K} & 10 & & 3 & \\\hline \mathrm{L} & 17 & & 2 & \\\hline \mathrm{M} & 21 & & 1 & \\\hline \mathrm{N} & 23 & & 0 & \\\hline\end{array}$

$\text {Table \(1.3\) }$
$\text {Production Possibilities for Brushes and Combs}$
On the basis of your calculations in Table 1.3, the highest opportunity cost for brushes in terms of combs is

• A)0.10 comb per brush.
• B)23 combs per brush.
• C)0.50 comb per brush.
• D)0.29 comb per brush.

Understand what constitutes cash and the classification of various cash items.

Grasp the basic principles of cash management, including managing receivables, payables, and cash flows.

Understand how to accurately record and report bank overdrafts in financial statements.

Interpret the components and results of a bank reconciliation statement correctly.

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Definitions:

Cognitive Perspective

An approach in psychology that focuses on the way people think, understand, and perceive the world around them.

Behaviour

The behavior or responses of a person when influenced by external or internal factors.

Unconscious Mind

A part of the mind that is not accessible to conscious thought, containing desires, feelings, and memories below the level of conscious awareness.

Profession

A paid occupation, especially one that involves prolonged training and a formal qualification.