-In the Above Figure, If 2 Million Computers Are Produced

question 85

Multiple Choice

-In the above figure, if 2 million computers are produced per year then the ________ should be produced to achieve the allocatively efficient use of resources.

• A) marginal cost of a computer exceeds the marginal benefit of a computer, so more computers
• B) marginal cost of a computer exceeds the marginal benefit of a computer, so fewer computers
• C) marginal benefit of a computer exceeds the marginal cost of a computer, so more computers
• D) marginal benefit of a computer exceeds the marginal cost of a computer, so fewer computers

Identify the functions and characteristics of money.

Appreciate the role of specialization and labor division in economic exchange.

Explain the evolution of money from barter to contemporary forms.

Understand the concept of double coincidence of wants in barter systems.

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Definitions:

Products

are goods or services that are created through a process and offered in the market to satisfy the needs or desires of consumers.

Profit

The financial gain obtained when revenues exceed the costs associated with business operations or investments.

Heart

That which is vital; the center or core of a person or thing. Expressing one’s innermost thoughts and feelings is termed “speaking from the heart,” and it is the basis of credibility and trust.

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.