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A family is having a group picture taken to mail to all the relatives.Mother,Father,Son,and Daughter are being photographed,but somebody has to work the camera,so only 3 people at a time can be photographed.Last year's pictures looked "funny" for some reason,so this year they decide to sit next to each other in various orders to see which composition is best.Let the ordered 4-tuple (M,D,S,
B) represent the photographer (Mom here), the person on the left in the picture (Dad here), the person in the middle in the picture (the Sister, in this case), and the person sitting on the right (Brother here). Determine the following events:
(a) = {Dad, the tallest, sits in the middle}
(b) = {the photographer is male and Mom is on the left}
(c) = {there is only one female in the picture}
(d) = {Dad is to the immediate left of Mom}
(e)
(f) ∪
(g) ∩
(h) ∩
(i) ∪
(j) ∩
Production Possibilities
The various combinations of goods and services an economy can produce when all its resources are fully employed.
Capital Goods
Long-lasting goods that are used in the production of other goods or services and are not consumed in the production process.
Consumer Goods
Products that are purchased for consumption by the average consumer.
Production Possibilities Curve
A graphical representation that shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are used efficiently.
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