The Production Possibilities Curve Demonstrate Which of the Following Concepts

question 181

Multiple Choice

The production possibilities curve demonstrate which of the following concepts?

• A) scarcity
• B) choice
• C) trade-offs
• D) all of the above

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Definitions:

Copyright

A form of protection provided to the creators of original works in the areas of literature, music, drama, choreography, art, motion pictures, sound recordings, and architecture.

Patent

A grant of exclusive property rights on inventions through the U.S. and other governments.

Trade Secret

Confidential information that provides companies with a competitive edge and is not in the public domain, such as formulas, patterns, compilations, programs, devices, methods, techniques, or processes.

Nondisclosure Agreement

A legal contract between at least two parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties.