Production Possibilities

4 Questions | Total Attempts: 215

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Geometry Quizzes & Trivia

Questions and Answers
  • 1. 
    ØExplain using figures, how moving from Point Y to Point X  involves no ‘opportunity cost’? Type response below
  • 2. 
    Which one of the following is a factor of production?
    • A. 

      The profits made by firms

    • B. 

      Land owned or rented by firms

    • C. 

      A bank loan

    • D. 

      The productivity of labour

  • 3. 
    Which one do you like?The opportunity cost of producing one more car is 
    • A. 

      Greater at X than at Y.

    • B. 

      Lower at X than at Y.

    • C. 

      The same at both X and Y.

    • D. 

      D zero at both X and Y.

  • 4. 
    Which one is unattainable?
    • A. 

      Z

    • B. 

      W

    • C. 

      X

    • D. 

      V