Assume You Are in the Business of Producing and Selling

question 263

Multiple Choice

Assume you are in the business of producing and selling T-shirts.If you could produce more T-shirts with the same input what would happen to your productivity and profits assuming the price of your T-shirts remains the same?

• A) Increase in productivity,decrease in profits
• B) Increase in productivity,increase in profits
• C) Decrease in productivity,decrease in profits
• D) Decrease in productivity,increase in profits

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Definitions:

Per Capita Income

The average income earned per person in a specific area or country.

World's Income

The total amount of economic output or earnings generated globally within a specific time period.

Productive Resources

The inputs used in the production of goods and services, typically categorized into land, labor, and capital.

Population Growth Rate

The population growth rate is a measure of how the number of individuals in a population increases or decreases over time, usually expressed as a percentage.