As We Move Along a Production Possibilities Curve and Acquire

question 90

Multiple Choice

As we move along a production possibilities curve and acquire larger and larger amounts of one good (e.g. ,guns) ,the sacrifices of the alternative good (e.g. ,butter) become larger and larger.This is an illustration of

• A)the law of demand.
• B)the law of large numbers.
• C)the law of supply.
• D)decreasing opportunity costs.
• E)increasing opportunity costs.

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Definitions:

Postmodern Culture

A cultural phase characterized by skepticism towards grand narratives and ideologies, embracing plurality, diversity, and the mixing of different cultural elements.

Cultural Capital

Non-financial social assets that promote social mobility beyond economic means, including education, intellect, style of speech, dress, or physical appearance.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a generalized disdain for other cultures.

Cultural Relativism

The principle of understanding and judging a culture by its own standards and values rather than comparing it to those of another culture.