Refer to the Following Table When Answering the Following Questions

question 95

Multiple Choice

Refer to the following table when answering the following questions.
Table 19.1: East and West Fish and Chip Production
-Consider Table 19.1. In autarky, the price of fish in terms of chips is ________ in the West, and in the East the price is ________; therefore, the West has a comparative advantage in ________.

• A) 2; 3; fish
• B) 3; 2; chips
• C) 2; 3; chips
• D) 1/2; 1/3; fish
• E) Not enough information is given.

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Definitions:

Premium

An article of merchandise offered as an incentive to the user to take some action.

Complimentary

Something given for free or at no charge.

Souvenir

An item kept as a reminder of a place, event, or experience, often collected during travels or special occasions.

Gift

A present or item given to someone willingly without expecting payment; often used in marketing as promotional material or a loyalty reward.