If Irene Can Make Either Four Chairs or One Table

question 367

Multiple Choice

If Irene can make either four chairs or one table in an hour and Greg can make either three chairs or two tables in an hour, then

• A) Irene has the absolute advantage in the production of tables.
• B) Greg has the absolute advantage in the production of chairs.
• C) Irene has the comparative advantage in the production of chairs.
• D) Greg has the comparative advantage in the production of chairs.

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Definitions:

Distribution Portals

Distribution portals are online platforms that allow businesses to distribute their products or services to a wide audience, often integrating various distribution channels.

Business Processes

Business Processes refer to a series of tasks or activities conducted by individuals or equipment that produce a specific service or product for a particular set of customers.

Customer Churn

The measure of how many customers stop using or subscribing to a service over a certain time period, often used to gauge a business's performance.

Customer Interactions

Any form of communication or engagement between a company and its customers, encompassing a wide range of activities from sales to customer service.