When an Economy Produces at Its Allocatively Efficient Production Point

question 171

Multiple Choice

When an economy produces at its allocatively efficient production point

• A) scarcity is not a problem.
• B) resources are not limited.
• C) a society can increase the production of all goods.
• D) a society can increase the production of one good only by decreasing the production of some other good that is valued more highly.

---

Definitions:

Frequency Distribution

A frequency distribution illustrates the frequency with which each unique value appears within a dataset.

Took Physics

An indication that someone has participated in or completed a course in physics.

Nominal

A type of data that represents categories without any intrinsic order or ranking among them.

Level Of Measurement

Refers to the different ways in which variables or data points can be quantitatively and qualitatively categorized.