Which One of the Following Statements Is Correct

question 105

Multiple Choice

Which one of the following statements is correct?

• A)Relative scarcity is no longer a central notion in economics because we are in an age of abundance.
• B)Most production possibilities curves are convex as viewed from the origin.
• C)The production possibilities curve shows society's preferences for consumer goods relative to capital goods.
• D)The central concept underlying the production possibilities curve is that of limited resources.

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Definitions:

Strategic Management

The process of planning, monitoring, analyzing, and assessing an organization's direction in terms of its goals and objectives.

Professional Planner's Responsibility

The duty of planning professionals to make informed, ethical decisions that consider the welfare of the public and the environment.

CEO's Responsibility

The duties and obligations that come with the role of a Chief Executive Officer, including setting strategic direction, making major corporate decisions, and managing the overall operations and resources of a company.

Strategic Leader

A person who has the ability to influence others to voluntarily make decisions that enhance the prospects for the organization's long-term success while maintaining short-term financial stability.