_____ Is the Result of Using Both Qualitative and Quantitative

question 44

Short Answer

_____ is the result of using both qualitative and quantitative data.

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Definitions:

Production Possibilities

The various combinations of goods and services an economy can produce when all its resources are fully employed.

Capital Goods

Long-lasting goods that are used in the production of other goods or services and are not consumed in the production process.

Consumer Goods

Products that are purchased for consumption by the average consumer.

Production Possibilities Curve

A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are used efficiently.