Question

ll-in-the-Blank
are
1. Fill in the blanks to make the following statements correct.
a. The three general categories of any economy's resor
-, and
Economists refer to these resou
as the of production
b. When we use any resource, the benefit given up by
using it in its best alternative way is known as the
that resource.
c. The concepts of scarcity, choice, and opportunity co
be illustrated by a curve known as the
d When looking at a production possibilities boundary
point that is outside the boundary demonstrates
slope of the production possibilities boundary
demonstrates
e A straight-line production possibilities boundary (P3
indicates that the opportunity cost of each good is-
matter how much of that good is produced. A PP3
concave to the origin indicates that an amount
one good must be given up to produce more of the
good.
£ Consider an economy producing two goods A and
with a PPB that is concave to the origin. As the com
produces more of good A and less of good is
opportunity cost of producing A-

Answer 1

Answer:

Explanation:

Please mark as brailnlist answer

I will give u many thanks