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what three important pieces of information can we learn by reading a produciton possibilities graph?
Weegy: You can determine max employment and output You can determine inefficiency and efficiency parameters. (More)
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Asked 7/11/2011 8:53:06 PM
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Using examples of land, labor, and capital, explain why economists believe that all goods and services are scarce.
Weegy: With the Recession hitting the World nowadays, Layoffs are increasing, and so is unemployment, that answers the labor part on the other hand, [ your Capital is the money you invest in a company that sells you a good or a service, Run that in the recession mill, and you got people who own capitals who are reluctant to invest, as for Land?, well, because of the recession, land prices have sored sky high therefore, the high price on Lands, the Lack of Labor and the reluctancy of Stockholders to inject more capital in the companies, Goods & Services *produced* are now scarce... :)\ ] (More)
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Asked 7/11/2011 8:43:36 PM
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Describe three services that the government provides to its citizens. Identify some of the opportunity costs of providing each of those services.
Weegy: Education -One major service the government provides is education. In every state, city, and county across the country, there is a public school system set in place so that every child has the opportunity to earn an education. User: Production possibilities frontiers curve when they are charted on a graph because they show (More)
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Updated 10/9/2011 4:20:43 PM
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UFF D MADRE,,.. IDK THAT ONE
Added 10/9/2011 4:20:43 PM
Explain the law of increasing costs User: Describe three services that the        government provides to its citizens. Identify some of the        opportunity costs of providing each of those services.
Weegy: Public road system. It costs money for them to build and maintain roads, but it provides temporary jobs and therefore (if the jobs are well-implemented, not just having a bunch of people sit around doing nothing) can stimulate the economy. [ Often they will hire private contractors to do the actual construction, and private engineering firms to generate the designs. This comes out of taxes, and unless there are toll roads, it does not generate extra income, except by attraction to the area because of improved infrastructure. Public schooling. It costs money, but if it is well implemented (which in the inner parts of big cities it usually isn't) then it becomes an investment in people who will become engineers, doctors, businessmen, scientists, and others who will contribute to society. Emergency services, such as police and firefighting. Policemen are necessary to enforce laws and protect the citizens, and firefighters are necessary for similarly obvious reasons. Some of the police department's budget comes from traffic tickets and certain legal fees, but much of it is taxpayer funded. Fire departments must be mostly taxpayer funded. When police officers do their job properly, it helps maintain order and improves the happiness of the citizens, and likewise with the fire department. However, especially in the inner parts of large cities, policemen will abuse their power over the people. ] (More)
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Asked 7/11/2011 8:55:23 PM
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