The Figure Given Below Represents the PPC in Two Nations

question 12

Multiple Choice

The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4

-The demand curve of a commodity slopes downward because of:

• A)the insatiable nature of human wants.
• B)the presence of double coincidence of wants.
• C)the law of demand.
• D)the scarcity of goods and services in an economy.
• E)the law of diminishing marginal utility.

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Definitions:

Peat Coal

A precursor to coal formed from the partial decomposition of plant material in wet, acidic conditions, often used as fuel.

Synthetic Fuels

Man-made substances created to mimic traditional fossil fuels, often produced from coal, natural gas, or biomass, and intended to be a less polluting energy source.

Lignite Coal

A soft brownish coal showing traces of plant structure, the lowest grade of coal due to its relatively low heat content.

Bituminous Coal

A type of coal noted for its relatively high energy and carbon content, used primarily for electricity generation and steel production.