Question about tradeoff and decision

Reference no: EM1368446

1. Resources are
A. scarce for households but plentiful for economies.
B. plentiful for households but scarce for economies.
C. scarce for households and scarce for economies.
D. plentiful for households and plentiful for economies.

25. Ben bakes bread and Shawna knits sweaters. Ben likes to eat bread and wear sweaters, and the same is true for Shawna. In which of the following cases is it impossible for both Ben and Shawna to benefit from trade?
A. Ben cannot knit sweaters and Shawna cannot bake breaD.
B. Ben is better than Shawna at baking bread and Shawna is better than Ben at knitting sweaters.
C. Ben is better than Shawna at baking bread and at knitting sweaters.
D. None of the above is correct.

26. Shannon bakes cookies and Justin grows vegetables. In which of the following cases is it impossible for both Shannon and Justin to benefit from trade?
A. Shannon does not like vegetables and Justin does not like cookies.
B. Shannon is better than Justin at baking cookies and Justin is better than Shannon at growing vegetables.
C. Justin is better than Shannon at baking cookies and at growing vegetables.
D. All of the above are correct.

Reference no: EM1368446

Questions Cloud

Explain and develop a rank-ordered chronological priority : Explain and Develop a rank-ordered chronological priority list of the first three issues that require attention. Provide justification for your recommendations.

Explain limitations of operations research technique : Describing your selected operations research technique. You must explain the technique, assumptions and limitations of method, the kinds of problems

Evaluate the change in costs : Assume industry abatement costs rise from $850 million in 2004 to $1,000 million in 2005 in nominal terms and that CPI is 100 in 2004 and 106 in 2005.

Explain human resource issues facing the vice president : Explain What are the human resource issues facing the vice president's department and under which of the HR domains

Question about tradeoff and decision : Shannon bakes cookies and Justin grows vegetables. In which of the following cases is it impossible for both Shannon and Justin to benefit from trade?

Write statement which outputs num-cost to standard output : Write single statement which outputs num and cost to standard output. Print both values (num first, then cost), separated by a space on a single line.

Question about demand curve : Demand by senior citizens for showings at local movie house has a constant price elasticity equal to-4. The demand curve for all other patrons has constant price elasticity equal to-2.

Write an essay on marketing management : The customer is always right -The customer doesn't know what's best. It's the baker's (marketer's) job to educate him. The above statements succinctly point out a subtle battle which rages within the marketing discipline.

Explain what are the human resource issues facing : Explain What are the human resource issues facing the vice president's department and under which of the HR domains

User Account

All Pages