Question

The implied production possibilities curve between work time and grades suggests that more hours spent working will mean more income, but also less study time and a lower grade average.True or False

Answer 1

Answer:

The correct answer is True.

Explanation:

The production possibilities frontier (FPP) is a graphic representation of the maximum quantities of production that an economy can obtain in a given period using all the resources it has available.

In an economy that has thousands of products, the alternatives to produce one good or another and how much of each are very large. When an alternative is chosen, it means that other possibilities are being renounced. The relationship between what we choose and what we give up is the opportunity cost.

In this case, two activities are listed that cannot be executed as much as possible, because there is the time factor which directly determines the trend if one of the two activities (work or study) is chosen. If the first one is chosen, the second one will be harmed, and vice versa.