Any Point Inside a Production Possibilities Curve Indicates

question 75

Multiple Choice

Any point inside a production possibilities curve indicates:

• A) unemployment and/or inefficiency.
• B) that the law of increasing opportunity costs is no longer valid.
• C) that society doesn't want more of either good.
• D) that economic growth is no longer possible.

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Definitions:

Mathematical Functions

Predefined operators or procedures in programming that perform calculations or mathematical operations on data.

Cycling

The process of repeating a set of operations or events periodically. In mechanical and electronic systems, cycling refers to the continuous repetition of processes.

On/off Control

A basic form of control system that operates by simply turning a process or device on or off in response to conditions.