An Economy's Production of Two Goods Is Efficient If

question 238

Multiple Choice

An economy's production of two goods is efficient if

• A)all members of society consume equal portions of the goods.
• B)the goods are produced using only some of society's available resources.
• C)it is impossible to produce more of one good without producing less of the other.
• D)the opportunity cost of producing more of one good is zero.

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Definitions:

Electronic Transactions

Deals or exchanges of goods, services, or information conducted over electronic systems such as the internet.

Online Contracts

Agreements made and signed in an electronic format, using the internet, which are legally binding as traditional paper contracts.

E-Signatures

Digital or electronic symbols attached to an electronic document, used by a person with the intention to sign the document.

Verifying

The process of validating or confirming the accuracy, authenticity, or truth of information, documents, or data.