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Question
Capitalism and socialism have not existed forever. Capitalism came into existence in the:A. mid-1800s and socialism came into existence in the early 1900s.
B. early 1900s and socialism came into existence in the mid-1800s.
C. mid-1700s and socialism came into existence in the early 1900s.
D. early 1900s and socialism came into existence in the mid-1700s.
Answer
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Related questions
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D. multiple owners are liable only to the extent of their own investment.
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If a firm's total revenue is $10,000 and its total costs are $9,000, then its profits are: A. -$1,000.
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B. just as concerned about fairness as capitalism.
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D. not concerned about fairness at all.
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B. allocates according to need.
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The slope of a line is zero when it is: A. horizontal.
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Q:
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Q:
If you move from a point inside the production possibility curve to a point on the production possibility curve, it follows that efficiency is: A. increased because the economy is now on the production possibility curve.
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Q:
To graphically demonstrate the principle of increasing marginal opportunity cost, the production possibility curve must be: A. flat.
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Q:
The principle of increasing marginal opportunity costs states that the initial opportunity costs are: A. high but decrease the more you concentrate on the activity.
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C. high but increase the more you concentrate on the activity.
D. low but decrease the more you concentrate on the activity.
Q:
This production possibility table illustrates: A. increasing marginal opportunity cost.
B. decreasing marginal opportunity cost.
C. constant marginal opportunity cost.
D. zero opportunity cost.
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Given the production possibility curve shown, the opportunity cost of listening to each additional CD when moving from point B to point A is on average: A. ½ article.
B. 1 article.
C. 2 articles.
D. 3 articles.
Q:
Because you can get more of one good only by giving up some of another good, the shape of a production possibility curve is: A. upward-sloping.
B. perfectly vertical.
C. perfectly horizontal.
D. downward-sloping.