Business
Business, 05.03.2020 02:10, scoutrussel4life

A production possibilities frontier: A. shows the act of buying and selling. B. shows the market for a good or service. C. shows how participants in the market are linked. D. shows how unlimited wants exceed the limited resources available to fulfill those wants. E. shows the maximum attainable combinations of two goods that may be produced with available resources. We can show economic efficiency: A. with points outside the production possibilities frontier. B. with points inside the production possibilities frontier. C. with points inside and on the production possibilities frontier. D. with points on the production possibilities frontier. E. with points on and outside the production possibilities frontier. We can show economic inefficiency: A. with points inside the production possibilities frontier. B. with points inside and on the production possibilities frontier. C. with points outside the production possibilities frontier. D. with points on the production possibilities frontier. E. with points on and outside the production possibilities frontier. The production possibilities frontier will shift outward A. if resources are used to produce consumption goods. B. if resources are not used in production. C. if resources are used to produce capital goodsif resources are used to produce capital goods. D. if production occurs outside the production possibilities frontier. E. if technology declinesif technology declines.

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