If an Economy Is Producing Efficiently,then

question 226

Multiple Choice

If an economy is producing efficiently,then

• A)there is no way to produce more of one good without producing less of another good.
• B)it is possible to produce more of both goods without increasing the quantities of inputs that are being used.
• C)it is possible to produce more of one good without producing less of another good.
• D)it is not possible to produce more of any good at any cost.

---

Definitions:

Lex Mercatoria

The “law of merchants” as defined by customs or trade usages developed by merchants to facilitate business transactions.

Substitute For Money

An alternative to traditional currency that is accepted as a medium of exchange, such as cryptocurrencies, barter items, or digital payment systems.

England

A country that is part of the United Kingdom, known for its rich history, cultural heritage, and as the birthplace of the English language.

Negotiable Instrument

This is a written promise to pay a specified amount of money, which can be demanded at any time or at a specified future date, with the payer's name clearly stated on it.