Question

In: Economics

A simple pencil is? (check all that apply) The end result of countless hours of work...

A simple pencil is? (check all that apply)

The end result of countless hours of work from the factory.

Difficult to produce because only a few people know how to do it.

The end result of a vast and intricate family tree of ancestors.

Easy to make

B. Who dictates the actions of people needed to produce a pencil?

Everyone

No one

Government

A few powerful people

C. How many people does it take to make a pencil?

It only takes a few experts and some good machinery. to make a pencil.

It takes a few graphite mines and rubber trees, along with their owners.

It takes millions of people from around the world to make a pencil.

It takes several hundred people working in a factory to make pencils.

Solutions

Expert Solution

A. Simple pencil is?
Answer - (a)The end result of countless hours of work from the factory.
(b)Difficult to produce because only a few people know how to do it.
(c)The end result of a vast and intricate family tree of ancestors.
Explanation -
The pencil has a complex family tree starting with tree(cedar), lacquer,graphite,etc. It is difficult to be made from scratch and one needs specialists, while needing countless hours of factory works to produce one.


B. Who dictates the actions of people needed to produce a pencil?
Answer - (b) No one
Explanation -
From its first person's point of view, the pencil mentions that it does not have a mastermind who dictates the actions needed to make a pencil.

C. How many people does it take to make a pencil?
Answer - (c) It takes millions of people from around the world to make a pencil
Explanation -
Millions of people are involved in making a pencil. No single man can do it from scratch. Starting from the president of the pencil company down to the caretaker of the warehouse.


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