Zora Can Produce 4 Quilts in a Week and She

question 111

True/False

Zora can produce 4 quilts in a week and she can produce 1 corporate website in a week. Lou can produce 9 quilts in a week and he can produce 2 corporate websites in a week. Zora has the comparative advantage in quilts and the absolute advantage in neither good, while Lou has the comparative advantage in corporate websites and the absolute advantage in both goods.

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Definitions:

Research And Analysis

A systematic investigation and study of materials, sources, etc., in order to establish facts and reach new conclusions, often used in various professional fields.

Growth

Achievement of a critical mass in the business, a point at which an adequate living is provided for the owner and family, with enough growth remaining to keep the business going.

Success-Disengagement Stage

A phase in the lifecycle of a business or career wherein achieving substantial accomplishments leads to reduced engagement or stepping away from active roles.

Supervision

The act of overseeing and managing the performance and productivity of employees to ensure tasks and objectives are accomplished.