Imitation as a strategy for acquiring new technology is based on the difference in effort between
a. creating it and thinking of it.
b. creating it and looking it up.
c. looking it up and writing it down.
d. discovering it and innovating it.
b
You might also like to view...
Juanita, a lawyer, can type faster than Jill, her secretary. Jill, on the other hand, does not have the ability or skills to practice law. Applying the principles of international trade to this situation, an economic consultant advises Juanita to
a. fire Jill, practice law and do the typing because she's better at both b. practice law and leave all the typing to Jill c. divide her time equally between typing and practicing law d. quit law and concentrate on typing because that's her comparative advantage e. quit law and concentrate on typing because that's her absolute advantage
A difference between biology and economics is that
A) economists use models and biologists use theories. B) biologists often use laboratory experiments and economists do less often. C) economics explains events while biology predict events. D) biologists use the scientific method while economists do not.