______ Questions Are Specific, Limited in Scope, Related to Some

question 23

Multiple Choice

______ questions are specific, limited in scope, related to some empirical reality, and should have specific evaluation criteria.

• A) Real-world
• B) Researchable
• C) Situational
• D) Focused

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Definitions:

Production Possibilities Frontier

A graph that shows the various combinations of output that an economy can possibly produce, given the available factors of production and the available production technology.

Trade-Off

A choice made in a given situation where one aspect of a set or design is reduced or forfeited to improve other elements.

Opportunity Cost

The dropping of possible gains that could come from other alternatives when a specific one is chosen.

Production Technology

The methods and processes used to convert inputs into outputs (goods or services).