Multiple Choice
A point inside a society's production possibilities curve represents
A) an unattainable combination of outputs.
B) an output combination that satisfies the needs of the population.
C) an underutilization of productive resources.
D) a technically superior output combination.
Correct Answer:
Verified
Correct Answer:
Verified
Q124: Refer to the above figure. Point c
Q125: The production possibilities curve can shift inward
Q126: The idea of comparative advantage is related
Q127: The value of the best alternative sacrificed
Q128: Why is a point below the production
Q130: "Wants" as an economic concept includes<br>A) both
Q131: The production possibilities curve represents<br>A) the maximum
Q132: Economic goods are defined as<br>A) tangible items
Q133: Regarding the production possibilities curve, an improvement
Q134: In the above figure, the opportunity cost