Hello There!
This is a "False Statement" <em>The cost of notions is generally not insignificant part of a garment’s cost</em>
There is no way to resolve the conflict between commercial business goals and those of social innovation. Social innovation follows a different process to more commercial forms of innovation. Whilst empathy and a need for social justice may be necessary attributes of a social entrepreneur, they are not sufficient. so true.
Answer:
The correct answer is option C.
Explanation:
Absolute advantage refers to the situation when a country or individual is able to produce more than its competitors at the same cost or produce the same level of output at a lower cost.
Here, it is given that the US can produce 12 bushels of wheat or 3 yards of textiles in a day. While India can produce 3 bushels of wheat or 12 yards of textiles in a day.
Since the US is able to produce more relatively quantity of wheat in a day, we can say that it has an absolute advantage in the production of wheat.
While, India can produce relatively more quantity of textiles in a day, so we can say it has an absolute advantage in the production of textiles.
