Use the Following to Answer Question

question 132

Multiple Choice

Use the following to answer question:
-(Figure: Production Possibility Frontier for Tealand) Use Figure: Production Possibility Frontier for Tealand.If Tealand is producing 10 million scones and 10 million cups of tea (point A) ,we know that the economy:

• A)is using its resources efficiently.
• B)is using its resources inefficiently.
• C)is fully employing its resources.
• D)has found new resources.

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Definitions:

Conservation

The management of resources to prevent waste, destruction, or neglect, ensuring their sustainability for future generations.

Resource Extraction

The process of retrieving natural resources from the Earth, such as minerals, fuels, and timber, for human use.

Temptation

An urge or desire to perform an action that may be enjoyable in the short term but is generally considered unwise or detrimental in the long run.

User Cost

User cost comprises the costs associated with the use of a product or service, including wear and tear, maintenance, and the opportunity cost of forgone alternatives.