Table 3-33 Chris and Tony's Production Opportunities

question 170

Multiple Choice

Table 3-33
Chris and Tony's Production Opportunities
-Refer to Table 3-33 Chris and Tony both produce tomatoes and pasta sauce. The table shows their possible production per month if both work the same number of 8 hour days. If Chris and Tony both decide to specialize and produce only the good in which they have a comparative advantage, then

• A)Chris will produce only sauce and Tony will produce only tomatoes.
• B)Chris will produce only tomatoes and Tony will produce only sauce.
• C)Both Chris and Tony will produce only sauce.
• D)Both Chris and Tony will produce only tomatoes.

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Definitions:

Endnotes

Notes placed at the end of a document or book that provide additional information or references.

Gainsharing Plans

Incentive programs where employees receive bonuses for performance improvements or cost savings within the company.

Balanced Scorecards

A strategic planning and management system used to align business activities to the vision and strategy of the organization by monitoring performance against strategic goals.

Share Options

Financial instruments that give the holder the right, but not the obligation, to buy or sell shares of a company at a specific price within a certain timeframe.