If an Economy Is Operating Efficiently and with Full Employment

question 12

Multiple Choice

If an economy is operating efficiently and with full employment, the production of more of one commodity will necessarily lead to less of something else being produced because of:

• A) the unlimited wants of people.
• B) perfectly adaptability of resources in the production of various goods.
• C) scarcity.
• D) the lack of money capital.

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Definitions:

Digital Assistant

An AI-based tool that can understand natural language and perform tasks or services for an individual, such as answering questions or organizing schedules.

CAM Technology

Computer-Aided Manufacturing technology which utilizes software and machinery to facilitate and automate manufacturing processes.

Bring Your Own Device (BYOD)

A policy permitting employees to use their personal devices for work purposes.

Online Productivity Software

Cloud-based applications and tools designed to help users create, edit, manage, and share documents and tasks over the internet.