58. According to the passage, what are the opportunity costs of an item?
A） The amount of time and money spent in producing it.
B） The opportunities a person has to buy it.
C） The value of what could have been produced instead.
D） The value of the resources used in its production.
59. According to the passage, what is the relationship between production and resources?
A） Available resources stimulate production.
B） Resources are totally independent of production.
C） Production increases as resources increase.
D） Production lessens the amount of available resources.
60. What determines the price of a good in a market economy?
A） The cost of all elements in production.
B） The cost of not making other goods.
C） The efficiency of the manufacturing process.
D） The quantity of materials supplied.
61. Which of the following examples BEST reflects a cost to society as defined in the passage?
A） A family buying a dog.
B） Eating in a restaurant instead of at home.
C） Using land for a house instead of a park.
D） Staying at home instead of going to school.
A） The amount of time and money spent in producing it.
B） The opportunities a person has to buy it.
C） The value of what could have been produced instead.
D） The value of the resources used in its production.
59. According to the passage, what is the relationship between production and resources?
A） Available resources stimulate production.
B） Resources are totally independent of production.
C） Production increases as resources increase.
D） Production lessens the amount of available resources.
60. What determines the price of a good in a market economy?
A） The cost of all elements in production.
B） The cost of not making other goods.
C） The efficiency of the manufacturing process.
D） The quantity of materials supplied.
61. Which of the following examples BEST reflects a cost to society as defined in the passage?
A） A family buying a dog.
B） Eating in a restaurant instead of at home.
C） Using land for a house instead of a park.
D） Staying at home instead of going to school.