Jason and Mark Were Talking in Class, but So Was

question 15

Multiple Choice

Jason and Mark were talking in class, but so was everyone else.As they continued to discuss their day's adventures, it suddenly became clear to them that the teacher was staring at them.They didn't realise that the class had been called to order and what was once only one conversation among many was now disruptive.Jason apologised quickly and the teacher resumed her normal activities.This is a good example of how a consumer's ability to detect a difference between two stimuli is ________.

• A)absolute
• B)negligible
• C)relative
• D)embedded

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Definitions:

Production Possibilities

A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.

Opportunity Cost

Forgoing possible gains from alternative paths when one path is chosen.

Farmer

An individual engaged in agriculture, raising living organisms for food or raw materials.

Comparative Advantage

The ability of a party to produce a particular good or service at a lower marginal and opportunity cost than another.