As an Economy Increasingly Specializes in Producing One Good,the Opportunity

question 87

Multiple Choice

As an economy increasingly specializes in producing one good,the opportunity cost of that good increases.The opportunity cost increases because

• A) resources are not equally productive in all activities.
• B) what must be paid to resources increases.
• C) human wants are virtually unlimited.
• D) not all goods are equally valuable.
• E) as more of a good is produced, the profit from its production must rise.

Grasp the concept of harm reduction and its application in treating drug abuse and alcoholism.

Comprehend the mechanisms and effectiveness of treatments for alcoholism, including medication and support groups.

Recognize the role of genetic predispositions in the risk for alcoholism and how they interact with environmental factors.

Understand the psychological and social factors that contribute to the persistence of addictive behaviors.

---

Definitions:

Antitrust Policy

Regulations and laws that encourage competition by limiting monopolies, preventing mergers that would restrict competition, and other business practices that would reduce consumer welfare.

Tacit Collusion

An unspoken, informal agreement among competitors to limit competition and keep prices high.

Standard Oil

An American oil producing, transporting, refining, and marketing company established by John D. Rockefeller and partners in the 19th century, which became a highly influential and controversial monopoly.

Antitrust Policy

A set of laws and regulations aimed at promoting competition and preventing monopolies and unethical business practices.