True or false1 the purpose of graphs is to demonstrate the, Ask an Expert

Economics

True or False.

1. The purpose of graphs is to demonstrate the relationship between variables.

2. If society is operating at a point inside its production possibilities curve, then some resources are not being fully utilized.

3. A production possibilities curve shows all the combinations of two goods that a society could produce if it had limitless resources.

4. Scarce resources command a price greater than zero at all times.

5. Since resources are scarce, society must make choices about what to produce.

6. Economists assume that individuals make informed decisions and act in their own self-interest.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91236266

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