Which of the Following Types of Occupational Choices Are We

question 14

Multiple Choice

Which of the following types of occupational choices are we most likely to see by the son of a doctor?

• A) carpenter or other building trade
• B) business executive
• C) doctor or other professional
• D) anything but a doctor

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Definitions:

Efficient

The characteristic of a resource allocation that maximizes the total surplus received by all members of society.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology, etc.), assuming efficient use of resources.

Technological Advance

The introduction and application of new technologies and methods that improve productivity and efficiency.

Unemployment

A situation where individuals who are able and willing to work are unable to find jobs.