Answer the following statement true (T) or false (F)

1) Products and services are scarce because resources are scarce.
2) An economy cannot produce at a point outside of its production possibilities curve because
human economic wants are insatiable.
3) An economy cannot produce at a point outside of its production possibilities curve because
human economic wants are insatiable.
4) The present choice of position on the production possibilities curve will not influence the future
location of the curve.

1) T
2) F
3) T
4) F