1101 Reyiew Questions Chapter # 1 Illustrate and explain what is meant by the term factors of production. FOP: Ld L K Illustrate and explain the concept of opportunity cost with the aid of a production possibilities diagram. What are the assumptions for the PPC diagram. use PFC diagram as you explain the concept of economic growth -- illustrate and explain the different ways the 3 basic economic questions can he answered discuss the different types of economic systems explain the different goals for the Canadian economy and how these goals may he conflicting or complementary