Exports are products produced in the home country and sold in another country

Tiger Woods, a professional golfer, pays a garage mechanic to change the motor oil of his car even though he can do the work himself. Which of the following best explains why Tiger Woods does not change the oil himself?

A) Tiger Woods has an absolute advantage in changing oil. B) Tiger Woods has a comparative advantage in changing oil. C) There is no opportunity cost for the garage mechanic to change oil. D) The opportunity cost of changing oil is higher for Tiger Woods than for the garage mechanic.

The basic truth that underlies the study of economics is the fact that we all face:

A. Death B. Taxes C. Risk D. Scarcity