The Following Production Possibilities Table Represents an Economy Which Is

question 191

Multiple Choice

The following production possibilities table represents an economy which is producing two products, tanks and autos.Refer to the table, in moving from possibility C to D, the cost of a tank in terms of autos is:

• A)50
• B)100
• C)200
• D)300

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Definitions:

Scientific Management

A management theory developed by F.W. Taylor aiming to improve economic efficiency and labor productivity through systematic study and analysis of work processes.

Historical Development

The process of change over time within human societies, cultures, or civilizations, often studied to understand present conditions.

Sociologist

An expert or scholar in sociology, which is the study of society, patterns of social relationships, social interaction, and culture.

Economist

A professional or scholar who studies, teaches, or practices economics, focusing on the distribution, production, and consumption of goods and services.