Given Below Is the Production Possibilities Schedule for Capital Goods

question 31

Multiple Choice

Given below is the production possibilities schedule for capital goods and consumer goods.Table 2.2

-If the nation depicted in Figure 2.3 is producing at combination E, the opportunity cost of producing the tenth unit of consumer good is:

• A)10 units of capital goods.
• B)6 units of capital goods.
• C)1 unit of capital good.
• D)4 units of capital goods.
• E)zero unit of capital good.

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Definitions:

Programs

A set of planned activities or procedures designed to achieve specific outcomes or objectives.

Decision Program

A predefined set of policies or procedures followed during the decision-making process to achieve a certain objective.

Standing Order

A pre-established directive that authorizes actions to be taken or procedures to be followed under certain conditions without the need for further approval.

Non-programmed Decision Making

Non-programmed decision making involves tackling novel, unstructured problems requiring unique solutions, often in high-stakes or uncertain situations.