When an Economy Is Operating with Maximum Efficiency, the Production

question 129

Multiple Choice

When an economy is operating with maximum efficiency, the production of more of commodity A will mean the production of less of commodity B because:

• A)of the law of decreasing opportunity costs.
• B)material wants are insatiable.
• C)resources are limited.
• D)resources are not specialized and are imperfectly substitutable.

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Definitions:

Leaf Blade

The broad, flat part of a leaf where most photosynthesis occurs, responsible for absorbing sunlight and exchanging gases.

Petiole

The stalk attaching the leaf blade to the stem in plants, providing support and transporting nutrients and water.

Stem

The main structural part of a plant that supports leaves, flowers, or fruits and transports fluids between different parts of the plant.

Bud Scale

A modified leaf that covers and protects a dormant bud.