The Production Possibilities Curve Illustrates the Basic Principle That

question 219

Multiple Choice

The production possibilities curve illustrates the basic principle that

• A)the production of more of any one good will in time require smaller and smaller sacrifices of other goods.
• B)an economy will automatically obtain full employment of its resources.
• C)if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.
• D)an economy's capacity to produce increases in proportion to its population size.

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Definitions:

Adversarial Arrangements

Situations or agreements where parties involved have opposing interests or are in competition with each other.

Creative Problem Solvers

Individuals or groups who use innovative and imaginative approaches to finding solutions for complex issues or challenges.

Planning

Establishing a broad outline for goals, policies, and procedures that will accomplish the objectives of the organization.