Instructions: Choose the Letter on the Accompanying Map of the Southern

question 129

Short Answer

Instructions: Choose the letter on the accompanying map of the southern United States that correctly identifies each of the following:

Cumberland Gap

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Definitions:

Consumer Goods

Goods that are produced for direct consumption by the end user.

Capital Goods

Long-term assets purchased by businesses to produce goods and services.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources), assuming all resources are fully utilized.

Opportunity Costs

The penalty of overlooking the next most advantageous option when a choice is made.