intro to economics

Looking at the side board, what is the opportunity cost of moving from "A" to "D"?

law of increasing costs results in a PPF curve that is

Looking at the side board, if the company produced 600 shirts and 300 socks, it would be

oil

plumber

all the alternatives that you give up to choose something else

a product can be produced more efficiently

PPF curve shifts to the left so resources have

a point outside the PPF curve is

a product that can be produced at a lower opportunity cost

Bill Gates

economics that deals with individual units

resources used to produce other goods

Looking at the side board, what is the opportunity cost of moving from "F" to "B"?

machinery

bowed out PPF curve shows

economics based of values

Looking at the side board, which point will result in greater future growth

the PPF curve is a straight line meaning

most desirable alternative given up when a decision is made

increase in resources will cause the PPF curve to shift

limited resources to satisfy unlimited needs and wants

different combination of two goods that can be produced with limited resources

economics that deals with nation as a whole

economics based on scientific method