Which of the Following Is a Correct Statement About Production

question 106

Multiple Choice

Which of the following is a correct statement about production possibilities frontiers?

• A)An economy can produce only on the production possibilities frontier.
• B)An economy can produce at any point inside or outside a production possibilities frontier.
• C)An economy can produce at any point on or inside the production possibilities frontier,but not outside the frontier.
• D)An economy can produce at any point inside the production possibilities frontier,but not on or outside the frontier.

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Definitions:

Innocent Landowners

Individuals who own property without knowledge of any environmental contaminations or violations present on the land.

Toxic Substances Control Act

A United States law, enacted in 1976, designed to regulate the introduction of new or previously existing chemicals.

Manufacture

The process of converting raw materials or components into finished goods through the use of labor, machinery, tools, and chemical or biological processing.

New Chemicals

Substances that have been recently developed or discovered and have not been previously identified or used in particular applications or industries.