Given the Production Possibilities Schedule in the Above Table, a Combination

question 135

Multiple Choice

Given the production possibilities schedule in the above table, a combination of 75 televisions and 75 portable devices

• A) is attainable but involves the unemployment of some of society's resources.
• B) clearly illustrates the trade-off between televisions and computers.
• C) cannot be produced by society, given its current level of resources and production technology.
• D) can be produced only if society is willing to have some of its resources used inefficiently.

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Definitions:

Laws

The system of rules that are recognized as regulating the actions of a country's or community's members and enforced by the imposition of penalties.

Forces of Competition

Forces of competition pertain to the external pressures in a marketplace from other firms that affect a company's ability to compete, often described in Porter’s Five Forces model.

Industry

A group of companies that operate in a specific sector of the economy, producing or supplying goods, services, or related technologies.

Strategic Plans

Long-term goals and the actionable steps designed to achieve an organization's objectives.