During a College Football Match, a Giant Blimp with the Slogan

question 57

Multiple Choice

During a college football match, a giant blimp with the slogan, "Entreat Sandwiches-A treat for your taste buds" is on display for the spectators. This is an example of:

• A)transit advertising.
• B)mobile advertising.
• C)digital advertising.
• D)aerial advertising.
• E)specialty advertising.

Understand the impact of changes in the unemployment rate on an economy's proximity to the production possibility frontier (PPF).

Grasp the concept of opportunity cost in the context of scarce resource allocation and investment.

Analyze the implications of efficiency and inefficiency in resource utilization on an economy's position relative to its PPF.

Explain the process and significance of investment in the creation of new capital.

---

Definitions:

Optimal Scale

The size of a company or factory at which the costs of production are minimized and productivity is maximized.

Long-run Equilibrium

A state in economic analysis where all inputs can be adjusted, market supply meets demand, and all firms in the market earn normal profit, indicating no entry or exit from the industry.

Low Point

Refers to the lowest level or value that something can reach, often used in the context of prices, rates, or economic indicators.

Average Total Cost Curve

A graphical representation showing how the total cost per unit of output varies with the level of output, typically U-shaped due to economies and diseconomies of scale.