Suppose That a Worker in Country a Can Make Either

question 17

Multiple Choice

Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year.Country A has 100 workers.Suppose a worker in Country B can make either 2 iPods or 10 tablets each year.Country B has 200 workers.Suppose Country B's population of workers increased to 600.We can say:

• A) Country B now possesses the absolute advantage in the production of both goods.
• B) Country B now possesses the absolute advantage in tablets only.
• C) Country B now has the comparative advantage in iPod production.
• D) Country B has no need to trade now.

Allocate appropriate project time for each phase of the business communication process.

Identify specific and general purposes in business communication campaigns and messages.

Recognize how cultural and language differences affect business communications and the importance of tailoring messages accordingly.

Acknowledge the significance of detailed project planning to avoid misunderstandings and ensure clear communication.

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Definitions:

Domestic Steel Industry

The segment of the economy that involves the production and distribution of steel within a specific country.

U.S. Consumers

Individuals or households within the United States that purchase goods and services for personal use.

World Price

World price refers to the international market price of a good or service, influenced by global supply and demand forces.

No-Trade Situation

A scenario where no exchanges occur, either because market participants find no benefit in trading or due to barriers to trade.