Which of the Following Statements About the Information Revolution Is

question 1

Multiple Choice

Which of the following statements about the Information Revolution is NOT correct?

• A)There was a shift from making tangible products to generating ideas.
• B)There was a shift from mechanical skills to literacy skills.
• C)There was a shift from farming to turning raw materials into finished products.
• D)There was a shift from working in factories to working almost anywhere.

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Definitions:

Utilities Possibilities Frontier

A curve that represents the maximum utility levels that can be achieved by an economy given efficient allocation of resources.

Utility

In economics, the total satisfaction received from consuming a good or service.

Marginal Utility

The additional satisfaction or utility gained from consuming one more unit of a good or service.

Apples

In economic terms, apples can be used as an example commodity to discuss principles like supply, demand, and market equilibrium.