Consider a Single Orange Tree

question 97

True/False

Consider a single orange tree. All of the seeds in the oranges of that tree would be considered genetically identical, given that the same plant produces them.

---

Definitions:

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower marginal cost than others.

Production Possibilities

Various combinations of goods and services that can be produced within an economy given available resources and technology.

Economies Of Scale

The cost advantage achieved by producing goods in large quantities, hence reducing the cost per unit.

Quality Of Products

Refers to the degree to which a product or service meets or exceeds customer expectations in terms of durability, reliability, and performance.