An Economy's Production of Two Goods Is Efficient If

question 177

Multiple Choice

An economy's production of two goods is efficient if

• A)the goods are produced using only some of society's available resources.
• B)the economy is producing at a point inside the production possibilities frontier.
• C)it is impossible to produce more of one good without producing less of the other.
• D)it is possible to produce more of one good without producing less of another good.

---

Definitions:

Power Resource Theory

A theory in political economy and sociology that analyzes the power of social groups, especially in terms of their ability to organize, mobilize resources, and affect social change.

Political Parties

Groups of individuals united by common political goals and views, aiming to affect public policy through the election of their representatives into public offices.

Waves of Democracy

Phases of significant spread of democracy throughout various countries, often resulting from socio-political movements, changes, and reforms.

Property-Owning

The condition of possessing legal title or right to own property, such as real estate, personal belongings, or intellectual property.