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Author Question: An inward shift of the production possibilities frontier represents A) negative economic growth. ... (Read 53 times)

lindiwe

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on: Jun 29, 2018
An inward shift of the production possibilities frontier represents
 
  A) negative economic growth. B) a rise in the unemployment rate.
  C) technological improvement. D) positive economic growth.

Question 2

What is the social interest? Distinguish it from self-interest. In your answer give an example of self-interest and an example of social interest.
 
  What will be an ideal response?


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chevyboi1976

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

A

Answer to Question 2

The social interest looks at what is best for society as a whole; choices that are best for society as a whole are said to be in the social interest. The self-interest looks at what is best for the individual; choices that are best for the individual making the choice are said to be in the self-interest. An example of a choice made in the self-interest is a student's decision to take an economics class. An example of a choice made in the social interest is a firm's decision to reduce its air pollution.


lindiwe

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

jordangronback

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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