ECO312 Production Possibilities Curve Assignment Help
Question 1.1. (TCO 1) When a state government chooses to build more roads, the required resources are no longer available for spending on public education. This dilemma illustrates the concept of production expenses.
Question 2.2. (TCO1) Which is not a factor of production?
Question 3.3. (TCO1) A point on the production possibilities curve is attainable and resources are fully employed. attainable, but resources are unemployed. unattainable, but resources are unemployed. unattainable and resources are fully employed.
Question 4.4. (TCO1) A basic characteristic of a command system is that wages paid to labor are higher. government owns most economic resources. Government planners play a limited role in deciding what goods will be produced.
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