What Does the Production Possibilities Curve Illustrate

question 33

Multiple Choice

What does the production possibilities curve illustrate?

• A) the minimum quantities of output that can be produced using available resources
• B) the minimum quantity of two resources necessary to produce a given level of output
• C) that when resources are currently being used efficiently, it is possible to increase production of one good only by sacrificing some of another good
• D) that when resources are currently being used inefficiently, it is possible to increase production of one good only by sacrificing some of another good

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Definitions:

Cultural Relativism

The perspective that beliefs, values, and practices are understood based on one's own culture and should not be judged by the standards of another.

Ethical Relativism

The belief that moral principles are valid, but are relative to the cultures or individuals holding them, without absolute moral truths.

Symbiotic Relationship

A close and often long-term interaction between two different biological species, where both species benefit from the relationship.

Etiology

The study of causation, or origination; used particularly in the context of disease to determine its cause.