Use the Following Scenario to Answer the Next Ten Questions

question 18

Multiple Choice

Use the following scenario to answer the next ten questions:
Amy can produce either 5,000 pounds of cheese or 20 houses per year. Jim can produce either 5,000 pounds of cheese or 10 houses per year.
-If this economy produces more than 20 houses per year,the opportunity cost of a house will ____________ because _____________.

• A) decrease; production will be specialized
• B) increase; an input with a higher opportunity cost must be used
• C) decrease; inputs will be obtained at lower cost
• D) increase; all gains from trade have already been exploited
• E) remain the same; Amy and Jim produce in constant ratios regardless of level of output

---

Definitions:

Electronic Calendar Management

The use of digital tools or software to organize, schedule, and keep track of appointments, meetings, and events.

Scheduling Conflicts

Situations where two or more events are planned for the same time period, making it impossible for an individual to attend all.

Time Management

The method of scheduling and coordinating how to allocate an individual's time among various tasks effectively.

Sales Quotas

Targets set for sales teams or individuals within a certain time frame, measuring the minimum amount of sales that must be achieved.