Which of the Following Statements Is an Explanation for the Law

question 199

Multiple Choice

Which of the following statements is an explanation for the law of increasing opportunity costs?

• A) Many economic resources are better at producing one product rather than another.
• B) The economy is employing all of its available resources.
• C) In any economy, the state of technology is changing and resources are variable.
• D) The economy is achieving productive efficiency by producing goods at the least cost.

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Definitions:

Examine If Open

A control logic instruction used in PLC programming to check if a specific condition or input is false or "open" before executing subsequent instructions.

Output Energize

The process of activating an output device or circuit, thereby enabling it to perform its intended function, such as turning on a light or motor.

Input Energize

refers to the condition in electrical or electronic circuits where an input signal or power source is applied, activating a component or process.

Dividend

A portion of a company's earnings that is distributed to shareholders, typically in the form of cash or additional stock.