For Two Individuals Who Engage in the Same Two Productive

question 80

Multiple Choice

For two individuals who engage in the same two productive activities,it is impossible for one of the two individuals to

• A)have a comparative advantage in both activities.
• B)have an absolute advantage in both activities.
• C)be more productive per unit of time in both activities.
• D)gain from trade with each other.

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Definitions:

Organizational Buying

The process through which formal organizations determine the necessity for products and services to be purchased, and assess and select from different brands and suppliers.

Problem Recognition

The initial step in the consumer decision process that occurs when a consumer identifies a need or problem that needs to be solved.

Alternative Evaluation

The stage in the consumer decision-making process where different products, brands, or options are assessed against set criteria.

Production Capability

The maximum amount of goods or services a company can produce in a given timeframe with available resources.