What is the fundamental problem of every society? Options: labor costs, scarcity, economic interdependence, market fluctuation
Production Possibilities Curve

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•
Social Studies
•
12th Grade
•
Hard
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18 questions
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1.
FLASHCARD QUESTION
Front
Back
scarcity
2.
FLASHCARD QUESTION
Front
True or False: Everything that is scarce requires a choice, and these choices always involve a tradeoff.
Back
True
3.
FLASHCARD QUESTION
Front
Based on the production possibilities table, which production combination is possible? Options: 28 pizzas and 5 pairs of shoes, 3 pairs of shoes and 23 pizzas, 2 pairs of shoes and 20 pizzas, 4 pairs of shoes and 15 pizzas
Back
2 pairs of shoes and 20 pizzas
4.
FLASHCARD QUESTION
Front
If the country is currently producing at point B and decides to produce at point C, the opportunity cost for the additional pair of shoes is ____ pizzas.
Back
3
5.
FLASHCARD QUESTION
Front
What is the production possibilities curve?
Back
a graph that shows how much an economy can produce between 2 goods
6.
FLASHCARD QUESTION
Front
What is opportunity cost?
Back
the opportunity one has to give up in order to gain something else
7.
FLASHCARD QUESTION
Front
Land, Labor, Capital, and Entrepreneurship
Back
Factors of Production
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