When a Textile Company Keeps Track of Its Inventory Using

question 138

Multiple Choice

When a textile company keeps track of its inventory using a computer and its competitor uses a pad of paper and a pencil, they are both answering the ________ part of one of the two big economic questions.

• A) "what"
• B) "how"
• C) "for whom"
• D) "where"

---

Definitions:

Slope

In mathematics and economics, it is the measure of the steepness or incline of a line, often representing the rate of change between two variables.

Isoquant Map

Graph combining a number of isoquants, used to describe a production function.

Marginal Returns

The additional output gained from increasing one unit of an input while keeping other inputs constant.

Output

The total amount of goods or services produced by a firm or country within a specific period.