Examlex
MATCHING
Using the above figure, identify the letter of the choice that best matches the figure.
-#3
Economic Growth
(1) An outward shift in the production possibilities curve that results from an increase in resource supplies or quality or an improvement in technology; (2) an increase of real output (gross domestic product) or real output per capita.
Self-Interest
is the motivation by individual personal gain as the driving force behind economic decisions and actions.
Market System
In this economic framework, decisions related to investment, production, and distribution are governed by supply and demand forces, and the cost of goods and services is dictated by an unrestricted pricing mechanism.
Market System
An economic system where decisions regarding investment, production, and distribution are based on supply and demand, with prices being determined by free competition among private businesses.
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