Determine Whether Lines $L _ { 1 }$ And $L _ { 2 }$

question 31

Multiple Choice

Determine whether lines $L _ { 1 }$ and $L _ { 2 }$ passing through the pairs of points are parallel, perpendicular, or neither.
$$\begin{array} { l } L _ { 1 } : ( 7 , - 4 ) , ( - 9 , - 1 ) \\L _ { 2 } : ( 4 , - 6 ) , ( - 3,9 ) \end{array}$$

• A) parallel
• B) perpendicular
• C) neither

Grasp the implications of changes in production possibilities on resource allocation.

Understand the difference between normative and positive economic statements.

Recognize the role and importance of assumptions in economic theories.

Identify the challenges of applying the scientific method to economics due to the unpredictable nature of human behavior.

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Definitions:

Foreign Trade

The exchange of goods, services, and capital between countries or territories, involving imports and exports.

Comparative Advantage

The capacity for a person, business, or nation to generate a product or service with a smaller opportunity cost compared to its rivals.

Competition

Rivalry among business firms for resources and customers.

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service more efficiently than its competitors when using the same amount of resources.