The Figure Given Below Represents the PPC in Two Nations

question 55

Multiple Choice

The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4

-Which of the following statements is not true about a market system?

• A)The market system provides an incentive to consumers to acquire purchasing ability.
• B)The market system magnifies the problem of scarcity of goods and services.
• C)The market system provides an incentive for allocating resources.
• D)The market system provides an incentive to improve the quality of goods produced.
• E)The market system provides everything everyone wants to consume.

---

Definitions:

σ

The symbol representing the standard deviation of a population, indicating the dispersion of data points from the mean in a population.

Normally Distributed

Characterizes a probability distribution with symmetry around its mean, illustrating that occurrences close to the mean are more common than those distant from the mean.

Standard Deviation

A measure of the dispersion or variability of a set of values, indicating how much the values deviate from the mean.

MBA Students

Individuals enrolled in a Master of Business Administration program, focusing on mastering business management skills.