The Optimal Point on a Production Possibilities Curve Is Achieved

question 40

Multiple Choice

The optimal point on a production possibilities curve is achieved where

• A) the smallest physical amounts of inputs are used to produce each good.
• B) each good is produced at a level where marginal benefits equal marginal costs.
• C) large amounts of capital goods are produced relative to consumer goods.
• D) large amounts of consumer goods are produced relative to capital goods.

---

Definitions:

Global Middle Class

A socioeconomic group that is characterized by stable income, education, and employment levels, and is growing in numbers worldwide, particularly in developing nations.

Occupational Prestige

The collective respect, admiration, or perceived value that society allocates to various professions or occupations.

Social Class

A division of society based on social and economic status, influencing individuals' lifestyles, attitudes, and behaviors.

Consumer Behaviour

The study of how individual consumers, groups, or organizations select, buy, use, and dispose of goods, services, ideas, or experiences.