Figure 2-8 -Refer to Figure 2-8.Which Point on the Graph Best Represents

question 138

Multiple Choice

Figure 2-8
-Refer to Figure 2-8.Which point on the graph best represents the fact that,because resources are scarce,not every conceivable outcome is feasible?

• A)point J
• B)point K
• C)point L
• D)point M

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Definitions:

New Homes

Newly constructed residential buildings intended for occupancy.

Blu-ray Players

Electronic devices that play Blu-ray discs, which are used for storing and viewing high-definition video and digital data.

Supply

The total amount of a good or service available for purchase at any given price.

Demand

In economics, the quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.