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Author Question: When an economy is operating on its production possibilities curve, more production of one good ... (Read 123 times)

rosent76

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on: Jun 30, 2018
When an economy is operating on its production possibilities curve, more production of one good means less production of another because:
 a. resources are limited.
  b. resources are not perfectly adaptable to alternative uses.
  c. wants are limited.
  d. wants are unlimited.
  e. some resources are not employed.

Question 2

When a person possesses a comparative advantage in the production of one good or service, it:
 a. means that the person's opportunity cost of producing that good or service is higher than for that of other goods.
  b. discourages specialization.
 c. promotes greater self-sufficiency.
 d. permits gains from trade to be realized due to a more efficient use of resources.


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phuda

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


rosent76

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

upturnedfurball

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Reply 3 on: Yesterday
:D TYSM

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