If a Society's Consumption Possibilities Are Identical to Its Production

question 135

Multiple Choice

If a society's consumption possibilities are identical to its production possibilities,that society has a(n)

• A) closed economy.
• B) open economy.
• C) one-person economy.
• D) absolute advantage in both goods and services.
• E) free trade policy.

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Definitions:

Environmentalists

Individuals or groups primarily concerned with protecting the natural environment from degradation.

Intelligence

The ability to learn, understand, and apply knowledge, problem solve, and adapt to new situations.

Genetic Inheritance

The process through which genes and traits are passed down from parents to their offspring.

Creativity

The ability to produce original and valuable ideas or objects; involves thinking or approaching problems in novel ways.