Multiple Choice
In economics,specialization means:
A) producing something using only one type of natural resource.
B) producing something using only labor.
C) focusing efforts on a particular product or a single task.
D) producing only one unit of output.
E) producing something using only one unit of a variable resource.
Correct Answer:
Verified
Correct Answer:
Verified
Q71: An economy's production possibilities frontier:<br>A)helps explain the
Q72: The figure below shows the production possibilities
Q73: Opportunity cost is defined as the:<br>A)dollar cost
Q75: An improvement in technology used to produce
Q77: Comparative advantage refers to:<br>A)the ability of an
Q79: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6687/.jpg" alt=" -The figure given
Q80: A production possibilities frontier will shift inward
Q81: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6687/.jpg" alt=" -The following figure
Q93: The law of increasing opportunity cost explains
Q178: If Daniel produces one pair of shoes