Consider a World with Two Countries and Two Goods

question 227

Multiple Choice

Consider a world with two countries and two goods. Under which of the following conditions does comparative advantage NOT exist?

• A) One country can produce both goods more cheaply than the other country.
• B) One country has more productive resources or inputs than another country.
• C) The opportunity cost of producing each good is the same in each country.
• D) One country has an absolute advantage in producing one good while the other country has an absolute advantage in producing the other good.

Identify the advantages and disadvantages of user-generated content sites, RSS feeds, and curation sites.

Recognize effective social media strategies for responding to rumors or misinformation.

Interpret how companies measure engagement with online stakeholders through tools like sentiment analysis.

Recognize the importance of effective internal communications and the role of email in business settings.

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Definitions:

Job Observation

The method of evaluating a job by watching and noting the tasks being performed, often used for training, performance assessment, or job design.

Family-Managed Businesses

Businesses that are owned, controlled, and operated by members of one or several families, often passed down through generations.

Nonfamily Professionals

Individuals who are employed in family-owned businesses but are not members of the owning family, bringing external expertise and perspectives.

Employee Referrals

A recruiting strategy where current employees recommend potential candidates for open positions within the organization.