Consider the Following Information About Production of Wine and Food(A)Using the Grids Below,plot Each Country's Production Possibilities Curve

The Answer of Consider the Following Information About Production of Wine and Food(A)Using the Grids Below,plot Each Country's Production Possibilities Curve

Consider the Following Information About Production of Wine and Food(A)Using the Grids Below,plot Each Country's Production Possibilities Curve

The Answer of Consider the Following Information About Production of Wine and Food(A)Using the Grids Below,plot Each Country's Production Possibilities Curve

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Consider the Following Information About Production of Wine and Food

question 31

Essay

Consider the following information about production of wine and food in England and France:
$\begin{array} { | c | c | c | c | c | } \hline & { \text { England } } & { \text { France } } \\\hline \begin{array} { c } \text { Percentage } \\\text { of resources } \\\text { devoted to food }\end{array} & \begin{array} { c } \text { Food } \\\text { Produced } \\\text { (tons) }\end{array} & \begin{array} { c } \text { Wine } \\\text { Produced } \\\text { (gallons) }\end{array} & \begin{array} { c } \text { Food } \\\text { Produced } \\\text { (tons) }\end{array} & \begin{array} { c } \text { Wine } \\\text { Produced } \\\text { (gallons) }\end{array} \\\hline 100 & 500 & 0 & 50 & 0 \\\hline 80 & 400 & 10 & 40 & 100 \\\hline 60 & 300 & 20 & 30 & 200 \\\hline 40 & 200 & 30 & 20 & 300 \\\hline 20 & 100 & 40 & 10 & 400 \\\hline 0 & 0 & 50 & 0 & 500 \\\hline\end{array}$ (a)Using the grids below,plot each country's production possibilities curve.
$Consider the following information about production of wine and food in England and France: \begin{array} { | c | c | c | c | c | } \hline & { \text { England } } & { \text { France } } \\ \hline \begin{array} { c } \text { Percentage } \\ \text { of resources } \\ \text { devoted to food } \end{array} & \begin{array} { c } \text { Food } \\ \text { Produced } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { Wine } \\ \text { Produced } \\ \text { (gallons) } \end{array} & \begin{array} { c } \text { Food } \\ \text { Produced } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { Wine } \\ \text { Produced } \\ \text { (gallons) } \end{array} \\ \hline 100 & 500 & 0 & 50 & 0 \\ \hline 80 & 400 & 10 & 40 & 100 \\ \hline 60 & 300 & 20 & 30 & 200 \\ \hline 40 & 200 & 30 & 20 & 300 \\ \hline 20 & 100 & 40 & 10 & 400 \\ \hline 0 & 0 & 50 & 0 & 500 \\ \hline \end{array} (a)Using the grids below,plot each country's production possibilities curve. (b)Which country has a comparative advantage in the production of food? Of wine? Explain. (c)Suppose that currently England and France are not trading with each other.England is producing (and consuming)200 tons of food and 30 gallons of wine.France is producing (and consuming)30 tons of food and 200 gallons of wine.As an international trader,how could you take advantage of this situation and make the big bucks?$ $Consider the following information about production of wine and food in England and France: \begin{array} { | c | c | c | c | c | } \hline & { \text { England } } & { \text { France } } \\ \hline \begin{array} { c } \text { Percentage } \\ \text { of resources } \\ \text { devoted to food } \end{array} & \begin{array} { c } \text { Food } \\ \text { Produced } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { Wine } \\ \text { Produced } \\ \text { (gallons) } \end{array} & \begin{array} { c } \text { Food } \\ \text { Produced } \\ \text { (tons) } \end{array} & \begin{array} { c } \text { Wine } \\ \text { Produced } \\ \text { (gallons) } \end{array} \\ \hline 100 & 500 & 0 & 50 & 0 \\ \hline 80 & 400 & 10 & 40 & 100 \\ \hline 60 & 300 & 20 & 30 & 200 \\ \hline 40 & 200 & 30 & 20 & 300 \\ \hline 20 & 100 & 40 & 10 & 400 \\ \hline 0 & 0 & 50 & 0 & 500 \\ \hline \end{array} (a)Using the grids below,plot each country's production possibilities curve. (b)Which country has a comparative advantage in the production of food? Of wine? Explain. (c)Suppose that currently England and France are not trading with each other.England is producing (and consuming)200 tons of food and 30 gallons of wine.France is producing (and consuming)30 tons of food and 200 gallons of wine.As an international trader,how could you take advantage of this situation and make the big bucks?$ (b)Which country has a comparative advantage in the production of food? Of wine? Explain.
(c)Suppose that currently England and France are not trading with each other.England is producing (and consuming)200 tons of food and 30 gallons of wine.France is producing (and consuming)30 tons of food and 200 gallons of wine.As an international trader,how could you take advantage of this situation and make the big bucks?

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Definitions:

Self-actualization

Attaining one's full talents and possibilities, regarded as an innate desire or motivation present in all individuals.

Self-concept

is the mental and conceptual understanding and persistent view individuals hold about themselves, their abilities, and their characteristics.

Increases

describes a situation or process where something becomes greater in size, number, or amount.

Decreases

A reduction in size, quantity, or degree of something.