When a Provincial Government Chooses to Build More Roads, the Required

question 147

Multiple Choice

When a provincial government chooses to build more roads, the required resources are no longer available for spending on public education.This dilemma illustrates the concept of:

• A)marginal analysis.
• B)full employment.
• C)full production.
• D)opportunity cost.

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Definitions:

Skills Shortage

A difficulty finding people with the right skills to fill vacant positions.

Human Resource

The department within an organization that deals with recruitment, management, and development of its employees.

Human Capital

The collective skills, knowledge, and expertise that individuals possess, which can be utilized to create economic value.

Economic Output

The total value of all goods and services produced by an economy over a specific time period.