Which of the Following Is True

question 44

Multiple Choice

Which of the following is true?

• A)International trade makes it possible for a country's consumption possibilities to exceed its production possibilities.
• B)International trade requires that a country's production possibilities exceed its consumption possibilities.
• C)A country's production possibilities always equal its consumption possibilities.
• D)A country's consumption possibilities can never equal its production possibilities because of leakages in the system.
• E)As long as there is full employment of resources, a country's production possibilities will exceed its consumption possibilities even with trade.

Understand the concept of marginal cost in different contexts.

Differentiate between economic concepts and misconceptions.

Recognize the core concepts of economics: opportunity cost, marginalism, and efficient markets.

Learn about the historical significance of the Industrial Revolution.

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Definitions:

Autonomous Motivation

A type of motivation that comes from within an individual, driving them to engage in behavior out of personal interest or satisfaction.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, regarded as a drive or need present in everyone.

Motivated by Needs

The drive or inclination to act or behave in a certain way based on the desire to fulfill basic requirements for survival, security, belonging, esteem, and self-actualization.

Needs for Existence

Basic requirements necessary for survival, such as food, water, shelter, and safety.