In a traditional economy, decisions about what to produce, how to produce, and who should get society's output are made by

An inducement to take a particular action is called

A) the marginal benefit. B) the marginal cost. C) opportunity cost. D) an incentive.

If an economy has to sacrifice increasing amounts of good X for each additional unit of good Y produced, then its production possibilities curve is:

A) bowed out from the origin. B) bowed in toward the origin. C) a straight line. D) a vertical line.