If a Given Production Combination Is Known to Be Attainable

question 130

Multiple Choice

If a given production combination is known to be attainable, then it:

• A)must be on the production possibilities curve.
• B)must be an inefficient point.
• C)must be an efficient point.
• D)could be either an inefficient or efficient point.

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Definitions:

Balance Sheet

This details a business's financial condition by listing its assets, debts, and the equity of its shareholders on a specific date.

Economic Resources

Assets, natural resources, labor, and capital that can be used for the production of goods and services, fundamental to economic activity.

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period of time.

Economic Performance

A measurement of how well an economy, sector, or company is performing in terms of income, output, and growth.