Production efficiency is described as
A) goods and services that are produced using the fewest resources possible.
B) the mix of goods and services produced being just what society desires.
C) one country having a lower opportunity cost of producing a good than another country.
D) one country being able to produce more of a good than another country.
Correct Answer:
Verified
Q238: International trade
A) increases consumer prices.
B) increases consumption
Q239: Opportunity cost applies only to personal purchasing
Q240: (Figure: PPF of Econia (a small nation))
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Q244: Increased illegal immigration into the United States
Q245: (Figure: Determining Production Possibilities 3) According to
Q246: (Figure: Turtletopia and Frogland PPFs) _ has
Q247: Which is NOT an example of an
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