The Production Possibilities Curve Illustrates Which Two of the Following

question 65

Multiple Choice

The production possibilities curve illustrates which two of the following essential principles?

• A)Factors of production and price signals.
• B)Scarce resources and opportunity cost.
• C)Market mechanisms and laissez faire.
• D)Economic growth and market failure.

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Definitions:

Work-Related

Pertaining to tasks, activities, or issues that arise in the context of one's employment or workplace.

OSHA

The Occupational Safety and Health Administration (OSHA) is an agency of the United States Department of Labor that ensures safe and healthful working conditions by setting and enforcing standards and by providing training, outreach, education, and assistance.

Employer

An individual or organization that hires and pays individuals for their labor or services.

FICA

Federal Insurance Contributions Act; a U.S. law that requires a payroll tax on both employees and employers to fund Social Security and Medicare.