If Available Resources Are Being Used Efficiently

question 32

Multiple Choice

If available resources are being used efficiently,

• A)a society can increase the production of one good or service only by decreasing the production of some other good or service.
• B)society need no longer worry about tradeoffs.
• C)a society can increase the production of one good or service only by increasing the production of some other good or service.
• D)resources are no longer limited.
• E)scarcity is no longer a problem.

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Definitions:

Flexibility

The ability of a system, organization, or individual to adapt effectively to changes, challenges, or varied demands.

Movable Equipment

Equipment that can be easily transported or moved, often used in various industries for operational flexibility.

Sophisticated Electronic

Advanced electronic systems or devices that have complex functions and capabilities.

Mass Customizer

A business strategy that combines the efficiency of mass production with the personalization of custom manufacturing, allowing for individual customer preferences at scale.