Which of the Following Is an Illustration of the Law

question 10

Multiple Choice

Which of the following is an illustration of the law of increasing opportunity costs?

• A) As more cars are produced,the opportunity cost of each additional car is greater than for the preceding unit.
• B) As more cars are produced,the opportunity cost of each additional car is less than for the preceding unit.
• C) As more cars are produced,the opportunity cost of each additional car is the same as for the preceding unit.
• D) People pay lower prices for cars the higher the costs of producing cars.

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Definitions:

Economic Standing

An individual's or a group's financial and social position in relation to others, based on income, wealth, and occupation.

Functionalists

Sociologists who focus on how societal components function together to maintain order, stability, and equilibrium in society.

Greater Rewards

Refers to the higher benefits or returns that are anticipated or received from taking greater risks or investing significant effort.

Training

The process of teaching or learning specific skills or behaviors, typically to improve performance in a given activity or job.