An Economy Producing at the Wrong Point on Its Production

question 8

Multiple Choice

An economy producing at the wrong point on its production possibility frontier is ___.

• A) efficient, because it is on the production possibility frontier.
• B) inefficient, because the combination of goods and services produced is not what people want.
• C) efficient, because the economy is producing goods at the lowest possible cost.
• D) inefficient, because that combination of goods could be produced at a lower cost if more efficient technology were employed.

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Definitions:

Functionalism

A theoretical perspective in social science that emphasizes the societal structures which exist to maintain stability and order in society.

Symbolic Interactionism

A sociological perspective focusing on how individuals interact based on shared meanings and symbols, emphasizing the subjective aspects of social life.

Queer Theory

Argues that people’s sexual identities and performances are so variable that conventional labels such as “male,” female,” “gay,” and “lesbian” fail to capture the sexual instability that characterizes the lives of many people.

Societal Institutions

The structures and mechanisms of social order and cooperation governing the behavior of a set of individuals within a given human community.