ECN 220 ECN220 Week 7 Quiz Answers (Grand Canyon University)

ECN 220 ECN220 Week 7 Quiz Answers (Grand Canyon University)

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ECN 220 ECN220 Week 7 Quiz

  1. In economics, scarcity means that:
  2. A consequence of the economic problem of scarcity is that:
  3. Opportunity cost is:
  4. The basic factors of production include:
  5. According to the law of increasing opportunity costs:
  6. Which of the following is an assumption under which the production-possibilities curve is drawn?
  7. An increase in the capacity to produce can be represented by a movement from:
  8. A shift of the production-possibilities curve from PP1 to PP2 could be caused by:
  9. A movement from point F to point D results in:
  10. At point A:

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