When Production Is Said to Be Characterized by Diminishing Marginal

question 31

Multiple Choice

When production is said to be characterized by diminishing marginal productivity:

• A) unskilled workers are less productive than skilled workers.
• B) output must increase with each additional unit of the input used in production.
• C) increasing the amount of one input used means more of another input must be used.
• D) adding additional inputs may still cause output to increase.

Distinguish between movements along a curve and shifts of the curve in economic models.

Recognize the significance of opportunity cost in economic decision-making.

Understand the implications of correlations and causations among economic variables.

Grasp the application of economic theory to historical events and real-world situations.

---

Definitions:

Visual

Pertaining to the sense of sight and the ability to interpret the surrounding environment through light in the visible spectrum.

Loose Associations

A thought disorder characterized by a disorganized way of thinking, where connections between thoughts are unclear or not logical.

Clang

A rhyme used by some people with schizophrenia as a guide to forming thoughts and statements.

Neologisms

Newly coined words, expressions, or usages that may be created by individuals in various contexts, including linguistics, literature, and mental health disorders.