How Might the Goals of Communities Best Be Summarized

question 3

Multiple Choice

How might the goals of communities best be summarized?

• A)Ensuring that the community's history is remembered
• B)Encouraging socialization with persons outside the community
• C)Maximizing availability of financial and other resources
• D)Promoting survival and maximizing the well-being of members

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Definitions:

Physical Capital

Tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.

Production Possibilities Curve

A graph that shows the different quantities of two goods that an economy can produce using all of its resources efficiently.

Scarcity

Fundamental concept of economics that indicates that there is less of a good freely available than people would like.

Production Possibilities Curve

A graphical representation that shows the maximum combination of goods or services that can be produced with a fixed amount of resources.