true or false

/in /by

  1. The law of increasing costs states that as a country produces less of one product and more of another, there is an increase in the resources needed to expand production of the second product.

    Save your time - order a paper!

    Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

    Order Paper Now

2 points  

QUESTION 2

  1. The line drawn on a production possibilities graph is known as the production possibilities frontier.

2 points  

QUESTION 3

  1. Use this production possibilities graph to help you answer the following question.

      Imported Asset  

    Any intersection of points outside the frontier (line) on a production possibilities graph would show that the economy is…

2 points  

QUESTION 4

  1. Production possibilities graphs illustrate the variety of ways that prices can be decreased.

2 points  

QUESTION 5

  1. Production possibilities graphs can help us understand how shortages occur.

2 points  

QUESTION 6

  1. Economists often use production possibilities graphs to explore the choices and trade-offs that people make.

2 points  

QUESTION 7

  1. An intersection of points outside the frontier (line) shows that an economy is growing.

2 points  

QUESTION 8

  1. The line drawn on a production possibilities graph is called a _________.

2 points  

QUESTION 9

  1. Which of the following cannot be shown on a production possibilities graph?

2 points  

QUESTION 10

  1. Economists often use production possibilities graphs to explore scarcity.

 
"Looking for a Similar Assignment? Order now and Get 15% Discount! Use Code "FIRST15"

"Do you have an upcoming essay or assignment due?


Get any topic done in as little as 6 hours

If yes Order Similar Paper

All of our assignments are originally produced, unique, and free of plagiarism.