Refer to the Diagram Below

question 3

Multiple Choice

Refer to the diagram below. The concave shape of each production possibilities curve indicates that:

• A) resources are perfectly substitutable.
• B) wants are virtually unlimited.
• C) prices are constant.
• D) resources are not equally suited for alternative uses.

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Definitions:

Phonemes

The smallest units of sound in a language that distinguish one word from another.

Morphemes

The smallest meaningful units of language that convey specific semantic meaning, which can be words or parts of words.

Phoneme

The smallest unit of sound in a language that can distinguish one word from another in the language.

Morpheme

The smallest grammatical unit in a language, unable to be further divided without altering or losing its meaning.