Multiple Choice
Production is efficient when
A) it generates a point beyond the production possibility curve.
B) the economy cannot produce more of one good without giving up the production of another good.
C) technological change occurs.
D) the maximum amounts of the most important good are produced.
Correct Answer:
Verified
Correct Answer:
Verified
Q234: Economic growth can be pictured in a
Q235: A production possibilities curve will shift inward<br>A)
Q236: Scarcity is caused by<br>A) unlimited wants running
Q237: A country operates inside its production possibilities
Q238: Human resources that perform the functions of
Q240: Why do most people specialize in their
Q241: Typically, the greater the specialization of resources<br>A)
Q242: Scarcity affects<br>A) only rich people.<br>B) only poor
Q243: "Because resources are scarce, the production of
Q244: The use of goods and services for