A Typical Concave (Bowed Out from the Origin) Production Possibilities

question 11

Multiple Choice

A typical concave (bowed out from the origin) production possibilities curve implies

• A) that economic resources are unlimited.
• B) that society must choose among various attainable combinations of goods.
• C) decreasing opportunity costs.
• D) that society is using a market system to allocate resources.

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Definitions:

Rib Cage

The set of bones surrounding the chest that protects vital organs such as the heart and lungs.

Triangular-Shaped

Having the shape of a triangle, characterized by three sides and three angles.

Fused Vertebrae

Vertebrae that have grown together or have been surgically joined to increase spinal stability.

Back

The rear part of the human body, extending from the neck to the lower end of the spine.