In New Zealand One Worker Can Produce 40 Walking Sticks

question 21

Multiple Choice

In New Zealand one worker can produce 40 walking sticks or 10 boomerangs each hour.What is the opportunity cost of producing one walking stick?

• A)40 boomerangs
• B)10 boomerangs
• C)4 boomerangs
• D)1/4 of a boomerang
• E)1/2 worker

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Definitions:

Increases

Refers to a growth or rise in quantity, size, number, or intensity of a particular object or phenomenon.

Decreases

The process of becoming smaller or fewer in amount, size, intensity, or degree.

Chief Executive Officers (CEOs)

the highest-ranking corporate officers or executives in charge of managing an organization, responsible for making major corporate decisions.

Resolute

Demonstrating firm determination or unwavering resolve in attitude, purpose, or action.