The Problem of Determining How Goods and Services Should Be

question 61

Multiple Choice

The problem of determining how goods and services should be produced is a problem of deciding:

• A) the best combinations of resources to be used for producing goods and services.
• B) the extent to which imports should be reduced relative to exports.
• C) the extent to which exports should be reduced relative to imports.
• D) who owns the resources.

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Definitions:

Vertical

Oriented upward, perpendicular to the horizon or a horizontal plane.

Rotary

Refers to something revolving around a center or axis, such as a rotary engine or a rotary dial.

Ear Ossicles

The three small bones in the middle ear known as the malleus, incus, and stapes, which transmit sound vibrations from the eardrum to the inner ear.

Visual Accessory

Visual accessory refers to items or devices that enhance or support vision, such as glasses, contact lenses, or magnifying tools.