Briefly explain what failure to properly use all capital equipment would do to a production possibilities curve and what that means for the economy.
What will be an ideal response?
Failure to properly utilize all equipment will result in a point being located inside the production possibilities curve, which signifies inefficiency. That means the economy is not producing all that it can.
Economics
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To be a successful entrepreneur requires willingness to
a. play it safe b. borrow money c. take risks d. abandon your family
Economics
All of the following are ground rules government can establish to help markets function well except
A) competition. B) honesty. C) information. D) collusion.
Economics