Match the following definitions: 1. Market
exchanging goods and services
without the use of money
2. Bartering
exchanging goods and services
with or without the use of money
3. Trading
a place where buyers and sellers
exchange goods and services
human resources used to produce
4. Labor
goods and services
5. Labor Union
organization that represents
workers in the areas of wages, benefits,
and work rules

Regarding competitive strategies, advertising is used in which strategy? a. global operations b. focused differentiation c. differentiation d. low-cost leadership

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

What has caroline's payment history been like? support your answer with two examples