If the Production of 2,000 Cars and 500 Tons of Corn

question 5

Multiple Choice

If the production of 2,000 cars and 500 tons of corn during a year is economically efficient for a country which produces only these two products, which of the following conclusions can be drawn?

• A)It satisfies domestic demand completely.
• B)The production of cars can not be increased without reducing the production of corn.
• C)The reallocation of resources to change the production level must reduce production of both goods.
• D)It is possible to increase the production of both if resources can be reallocated.

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Definitions:

Cognitive Styles

Individual differences in the way people perceive, think, solve problems, learn, and relate to others.

Self-Efficacy

An individual's belief in their own capability to execute behaviors necessary to produce specific performance attainments.

Opportunity Recognition

The ability to identify and assess potential business or growth opportunities in the market or environment.

Idea Generation

The creative process of generating new, innovative ideas for potential solutions, products, or improvements.