When an Economy Is Operating Under Conditions of Full Employment

question 268

Multiple Choice

When an economy is operating under conditions of full employment, the production of more of commodity A will mean the production of less of commodity B because

• A) of the law of increasing opportunity costs.
• B) economic wants are insatiable.
• C) resources are limited.
• D) resources are specialized and only imperfectly substitutable.

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Definitions:

Nutrient-holding Capacity

The ability of soil to retain nutrients and make them available to plants, influencing soil fertility and agricultural productivity.

Soil Textures

Describes the feel, look, and consistency of soil based on the size and distribution of its particles, such as sand, silt, and clay.

Chemical Properties

Characteristics of a substance that become evident during a chemical reaction, revealing the substance's composition.

Organic Compounds

Chemical compounds made primarily of carbon atoms, often containing hydrogen, oxygen, nitrogen, and other elements, that are found in living organisms.