--%>

Exchange and Specialization

I have a problem in economics on Exchange and Specialization. Please help me in getting the right answer from the following question. Sarah the wheat farmer would be most probable to trade for fruit from the Kathy's orchard if: (i) Sarah's opportunity cost to generate wheat is relatively lower. (ii) Both Kathy and Sarah specialize to decrease costs. (iii) Sarah consists of a comparative benefit in wheat. (iv) Sarah encompasses the higher opportunity cost for the fruit. (v) All of the above.

What is the right answer?

   Related Questions in Business Economics

  • Q : Illustrate the Goals of Mixed Economy

    Illustrate the Goals of Mixed Economy?

  • Q : Problem on private resource ownership

    Relative to most of the other countries, the United States encompasses historically relied more greatly on: (1) Public resource ownership and private income distribution. (2) Decentralized decision making and private resource ownership. (3) Exports of textiles, automo

  • Q : Economic concepts of academic subjects

    The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)

  • Q : How do households dispose of their

    How do households dispose of their income?

  • Q : Distinguish between allocative

    Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?

  • Q : Production possibility frontier

    Question: Scenario: You have been hired as the economics adviser for the newly elected State Premier. On your first day, the Premier introduces you to the new Minister for Health

  • Q : Resource markets in simple circular

    Can someone help me in finding out the right answer from the given options. In resource markets in a simple circular flow model, house-holds exchange their _________ for _________. (1) Resources | income. (2) Goods | profits. (3) Labor | goods. (4) Devotion | enlighte

  • Q : Describe Low financial leverage and low

    Describe briefly Low financial leverage, low operating leverage?

  • Q : Assertion to increase in the minimum

    Use the circular flow model to confirm this assertion for a $1 per hour increase in the minimum wage?

  • Q : Change in supply and a change in the

    Distinguish between a change in supply and a change in the quantity supplied?