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Author Question: In a world of scarcity, there has to be some way to ration the available resources. According to ... (Read 115 times)

bcretired

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on: Jun 29, 2018
In a world of scarcity, there has to be some way to ration the available resources. According to economists, the most efficient use of available resources occurs when rationing occurs via
 
  A) queuing.
  B) lotteries.
  C) political power.
  D) the price system.

Question 2

It is correct to state that a society which is on its production possibilities curve is
 
  A) underutilizing is resources.
  B) technologically inefficient.
  C) consuming too much output.
  D) fully utilizing its productive resources.


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blakeserpa

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


bcretired

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Reply 2 on: Jun 29, 2018
Excellent

gcook

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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