Related to the Economics in Practice on Page 5: the Opportunity

question 200

Multiple Choice

Related to the Economics in Practice on page 5: The opportunity cost to Mattel of having its Barbie doll assembled in China is

• A) the low wages paid to Chinese workers.
• B) the $2 export value the doll carries when it leaves Hong Kong.
• C) the $8 of its $10 retail value which is captured in the United States.
• D) having the Barbie doll assembled in the next best available location.

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Definitions:

Work Habits

Work habits are the practices and routines that individuals consistently follow in their professional tasks, which contribute to their effectiveness and productivity.

Extranet

A controlled private network that allows access to partners, vendors, or selected external parties, extending a company’s intranet.

Multiple Organizations

Refers to situations involving more than one organization, often pertaining to partnerships, coalitions, or competitive environments.

Corporate Portal

A website that provides a single point of access to critical business information located both inside and outside an organization.