When manufactured goods are used to produce other goods and services, they are called capital goods. T F

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Asked 11/14/2013 12:47:02 PM

Updated 2/21/2017 6:22:33 PM

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Edited by Andrew. [2/21/2017 6:21:36 PM], Flagged by Andrew. [2/21/2017 6:21:37 PM]

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User: When manufactured goods are used to produce other goods and services, they are called capital goods. T F

User: When there is scarcity and choice there is/are _______. a. no options. c. risk. b. costs. d. opportunity.

Question

Asked 11/14/2013 12:47:02 PM

Updated 2/21/2017 6:22:33 PM

2 Answers/Comments

Edited by Andrew. [2/21/2017 6:21:36 PM], Flagged by Andrew. [2/21/2017 6:21:37 PM]

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Andrew.

When manufactured goods are used to produce other goods and services, they are called capital goods. TRUE.

Added 2/21/2017 6:22:10 PM

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Andrew.

When there is scarcity and choice there are costs.

Added 2/21/2017 6:22:33 PM

This answer has been confirmed as correct and helpful.

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The law of increasing costs means that when an economy increases the production of one item a. the opportunity cost goes up. b. the actual cost of making the item goes down. c. the actual cost goes up but the opportunity cost goes down. d. the production costs will increase also.

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Updated 8/18/2015 1:16:00 PM

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Andrew.

The law of increasing costs means that when an economy increases the production of one item, the opportunity cost goes up.

Added 8/18/2015 1:16:00 PM

This answer has been confirmed as correct and helpful.

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