Takes the lowest cost into consideration
takes the opportunity
cost into consideration
China produces rice at
the lowest cost than any
other country
United States manufactures
machines at a much lesser
opportunity cost than other
countries.
United States imports electronics
even though it has the capability
of manufacturing themmore
efficientlythan China.
Absolute Advantage Policy
Comparative Advantage Policy

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th withdraw?

Read the following paragraph, and choose the best revision for one of its sentences.dr. blake is retiring at the end of the month. there will be an unoccupied office upon his departure, and it is big in size. because every other office is occupied, we should convert dr. blake’s office into a lounge. it is absolutely essential that this issue is discussed at the next staff meeting. (a) because every other office is occupied, it’s recommended that we should convert dr. blake’s office into a lounge. (b) because every other office is filled, we should convert dr. blake’s office into a lounge.