-Using Figure 1

question 60

Multiple Choice

-Using Figure 1.4 above we know the production of 4 units of soda and 2 units of pizza is

• A)possible, but there would be unemployed resources.
• B)possible, but only if all resources were fully employed.
• C)impossible because we have the resources but do not have the technology.
• D)impossible because we have the technology but do not have the resources.

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Definitions:

Complements

are goods or services that are typically consumed or used together, where an increase in demand for one leads to an increase in demand for the other.

Substitute Product

A product or good that a consumer can use in place of another.

Substitutes

Products or services that can be used in place of each other.

Substitutes

Products or services that can be used in place of one another, where an increase in the price of one leads to an increased demand for the other.