--%>

Problem regarding opportunity cost

In a completely employed economy, the reduction in an output for one good which is needed to raise the output of another good: (1) Symbolizes an opportunity cost. (2) Makes society inferior off than before. (3) Enhances economic welfare. (4) Needs technological advances. (5) Is an needless sacrifice.

Can someone please help me in finding out the right answer from the above options.

   Related Questions in Econometrics

  • Q : Maximum output in absence of

    In the nonattendance of diminishing returns, the maximum output of food from the flower pot (or land) and limitless amounts of other resources would be sufficient to feed: (1) The grasshopper. (2) One skinny family. (3) One mouse. (4) All of the world.

    Q : Diminishing Returns-Concave from origin

    The inevitability of ultimately raising opportunity costs might be employed to explain why: (1) Scarcity is the worsening problem in industrial societies. (2) Production possibilities frontiers are concave from origin. (3) Services cost more than good

  • Q : Problem on suppliers or entrepreneurs

    The fundamental issue of how production will be systematized in a market economy is most directly and instantly recognized by: (i) Govt. officials. (ii) Economic fore-casters. (iii) Suppliers or entrepreneurs. (iv) Worker committees. (v) Consumers.

    Q : Problem on distributing welfare needs

    According to the need criterion of distribution: (1) The market system most proficiently allots all goods. (2) Government must distribute output in accord with requirement. (3) Wages according to requirement, gain according to greed. (4) People must produce in proport

  • Q : Alchemic method for transforming lead

    The good example of technological modification would be a discovery of: (i) Big vein of industrial-quality diamonds in the Korea. (ii) New form of sub-atomic particle. (iii) Alchemic method for really transforming lead into gold. (iv) Primeval ‘

  • Q : Fiscal policy Which one of the

    Which one of the following statements about discretionary fiscal policy is correct? A. Discretionary fiscal policy refers to the changes in taxes and transfers that occur as GDP changes. B. Discretionary fiscal policy refers to any change in government spending or taxes that destabilizes the econo

  • Q : Unemployment- Production possibility

    I have a problem in economics on Unemployment- Production possibility curve. Please help me in the following question. Unemployment is exhibited with the production possibility curve through: (i) Move all along the curve. (ii) Shifting the curve down.

  • Q : Parallel outward shift of production

    The parallel outward shift of the whole production possibility frontier signifies that: (i) Unemployment have been removed. (ii) The resources are more efficiently employed. (iii) An economy can generate more of one good. (iv) An economy can generate

  • Q : Significant economic roles The ‘mixed

    The ‘mixed economy’ is one which is characterized by: (1) A diverse industrial base employing different applied technologies. (2) Significant economic roles for both private and public sectors. (3) Regional industries with intrastate and inter trade. (4) B

  • Q : Confronting the problem of US scarcity

    The main mechanism employed in United States to confront the problem of scarcity is: (1) The market system, that relies on prices to the direct production. (2) The mixture of brute force and tradition. (3) Arbitrary selection, however queuing as well