Which of the Following Statements About Production Possibilities Is True

question 116

Multiple Choice

Which of the following statements about production possibilities is true?

• A) Production possibilities are limited for all countries because resources are scarce.
• B) The production of food does not involve opportunity costs since people must eat.
• C) Production possibilities will expand if the level of inefficiency is reduced.
• D) Production possibilities are only limited for a country if prices are too high.

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Definitions:

Preliminary Parts

Initial sections of a document or report that typically include the title, abstract, and table of contents, setting the stage for the main content.

Supplementary Information

Additional data or details provided to support or clarify a main piece of information or argument.

Credibility

The quality of being trusted, believable, or reliable.

Identify Assumptions

The process of recognizing and evaluating underlying beliefs or principles that are taken for granted within a particular argument or context.