Which of the Following Is One of the Simplifying Assumptions

question 152

Multiple Choice

Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve?

• A) The state of technology is constantly changing
• B) A wide variety of products are produced
• C) Resources are fully employed and are used in least-cost methods of production
• D) Quantities of available resources in the economy vary from one point to another

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Definitions:

Trustworthiness

The quality of being reliable, honest, and dependable in character, which is crucial for building trust in relationships.

Trait Approach

A leadership theory focused on identifying specific qualities that distinguish leaders from non-leaders.

Research

The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.

Leader Traits

Innate characteristics and qualities that contribute to an individual's capacity to lead, such as intelligence, determination, charisma, and integrity.