Society's Production Possibilities Frontier

question 78

Multiple Choice

Society's production possibilities frontier

• A)helps explain the immense complexity of the real economy
• B)demonstrates that, although resources are scarce for individuals, there is no problem of scarcity for
• Society as a whole
• C)is based on unrealistic assumptions and therefore has no value as an economic tool
• D)is based on simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and
• Economic growth
• E)is based on the assumption that technology is constantly changing

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Definitions:

Subject Classes

Categories into which subjects or topics are divided based on shared characteristics or themes.

Categorical Proposition

A statement that asserts or denies something about all members of a category, typically structured in standard forms (A, E, I, O).

Declarative English Sentences

Statements in English that express an assertion, question, or request, typically having a subject followed by a predicate.

Explicit Subjects

Subjects that are clearly and directly expressed or stated in a sentence or argument.