1.12. Do you agree or disagree with each of the following statements? Explain. a. If it is...
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1.12. Do you agree or disagree with each of the following statements? Explain.
a. If it is possible to exchange 3 pounds of cheese for 2 bottles of wine, then the price of cheese is 2/3 the price of wine.
b. A country can only gain from trade if it can produce a good at a lower absolute cost than its trading partner.
c. If there are constant marginal and average costs of production, then it is in a country’s best interest to specialize completely in the production of some goods but to import others.
d. Assuming that labor is the only input, if the opportunity cost of producing a yard of cloth is 3 bushels of wheat per yard, then wheat must require 3 times as much labor per unit produced as cloth.
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Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
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