As Society Produces More and More of One Good, the Opportunity

question 112

True/False

As society produces more and more of one good, the opportunity cost of doing so usually increases.

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Definitions:

Premarital Contract

An agreement between individuals planning to marry that outlines the management of their assets and financial matters upon marriage.

Informal Contract

A contract that requires no formalities. Also called simple contract.

Formal Contract

A contract that must have a special form or must be created in a specific manner.

Simple Contract

A contract that is not a formal contract. Also called an informal contract.