An Economy Producing at the Wrong Point on Its Production

question 8

Multiple Choice

An economy producing at the wrong point on its production possibility frontier is ___.

• A) efficient, because it is on the production possibility frontier.
• B) inefficient, because the combination of goods and services produced is not what people want.
• C) efficient, because the economy is producing goods at the lowest possible cost.
• D) inefficient, because that combination of goods could be produced at a lower cost if more efficient technology were employed.

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Definitions:

Limestone

A sedimentary rock composed primarily of calcium carbonate, often formed from marine organisms' shells and skeletons.

Granite

A rough-textured igneous rock that predominantly contains quartz, feldspar, and mica, frequently used in the construction industry.

Lineation

A linear feature within rock, such as grain elongation or mineral stretching, that indicates flow or movement directions during formation.

Elongated Mineral

A mineral shape characterized by being significantly longer in one direction than in the others, common in some types of crystals.