The United States Can Use All Its Resources to Produce

question 183

Multiple Choice

The United States can use all its resources to produce 250 DVDs or 500 shoes.China can use all of its resources to produce 30 DVDs or 300 shoes.The opportunity cost of producing a DVD in the United States is

• A) 2 shoes.
• B) 1/2 of a shoe.
• C) 20 shoes.
• D) 500 shoes.
• E) 1 DVD.

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Definitions:

Properly Allocating

The process of distributing resources or tasks among various projects or units effectively and efficiently.

High Performance

The achievement of noticeably superior results, exceeding established standards or expectations.

Recent Concept

Refers to a new or latest idea, theory, or viewpoint that has emerged in a particular field or discipline.

Cognitive Ability

The capacity of an individual to perform various mental activities most closely associated with learning and problem solving.