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:

Maturity

The state of being fully developed physically or emotionally, or exhibiting behaviors typical of well-developed individuals.

Deposition

A pretrial sworn and recorded testimony of a witness that is acquired out of court with no judge present.

Court Reporter

A professional responsible for creating verbatim transcriptions of legal proceedings, trials, and other legal events.

Alternative Dispute Resolution

A process to resolve disputes outside of court, including arbitration and mediation.