Which of the Following Is Not an Example of an Economic

question 64

Multiple Choice

Which of the following is not an example of an economic trade-off that a firm has to make?

• A) whether it is cheaper to produce with more machines or with more workers
• B) whether it is cheaper to outsource the production of a good or service
• C) whether or not consumers will buy its products
• D) whether it should produce more of its product

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Definitions:

Manufacturing Economy

A system where a country's economy is heavily reliant on the production and export of manufactured goods.

Crop Rotation

A method in agriculture where different types of crops are grown in the same area in sequenced seasons to improve soil health and reduce pests.

Rural Areas

Regions characterized by low population density and vast open spaces, typically dominated by agriculture and natural landscapes.

Socialist Economy

An economic system where the means of production are owned and managed collectively or by the state, aiming for equal wealth distribution and reducing social class differences.