Econ 201 CHAPTER 2 Exam | Questions with 100%
Correct Answers | Verified | Latest Update
2026/2027
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Terms in this set (17)
A person has an absolute advantage can complete that task in less time than the other
in a given task if they _____ person
If Cathy has a comparative Cathy's opportunity cost of cooking dinner is lower
advantage over Reid in cooking than Reid's opportunity cost of cooking dinner.
dinner, then _____
One person has a(n) ________ Comparative
advantage over another if their
opportunity cost of performing a
task is lower than the other person's
opportunity cost.
Joe and Rachel are roommates. absolute
Rachel takes 10 minutes to do the
dishes, and Joe takes 15 minutes to
do the dishes. So, we know that
Rachel has a(n) ________ advantage in
washing dishes.
Correct Answers | Verified | Latest Update
2026/2027
Save
Terms in this set (17)
A person has an absolute advantage can complete that task in less time than the other
in a given task if they _____ person
If Cathy has a comparative Cathy's opportunity cost of cooking dinner is lower
advantage over Reid in cooking than Reid's opportunity cost of cooking dinner.
dinner, then _____
One person has a(n) ________ Comparative
advantage over another if their
opportunity cost of performing a
task is lower than the other person's
opportunity cost.
Joe and Rachel are roommates. absolute
Rachel takes 10 minutes to do the
dishes, and Joe takes 15 minutes to
do the dishes. So, we know that
Rachel has a(n) ________ advantage in
washing dishes.
