Chapter 2 Quiz

Question 1

Quiz:Chapter 2 Practice Questions
Question 1
This Quiz: 15 pts possible

Harry produces balloon rides and boat rides an hour.
Harry produce more balloon rides without producing fewer boat rides.
Harry is​ ______ his production possibilities frontier.

Answer 1

producing inside

Question 2

Gerry and Sarah produce strawberries
Gerry has a comparative advantage in producing if​ _______.

If Gerry also has an absolute advantage in growing strawberries​, he will​ _______.

Answer 2

Gerries opportunity cost of producting strawberris is less than sarahs

have a comparative advantage in one activity but not both

Question 3

Capital accumulation is the​ _____, including​ _____ capital.

Answer 3

growth of capital​ resources; human