The production possibility chart/frontier assist in outlining opportunity cost as it compares the production cost of one product to another. The purpose of this curve/chart/frontier is to show the different combinations/mixture of two goods that are produced by the given resources.
<u>Assumptions of production possibility frontier;
</u>
1. A certain amount of resources is given.
2. Full and efficient use of available resources has been done.
3. Change in technique.
A lot of people died and wounded
Who has a command economy?
✅The command economy is a key feature of any communist society. Cuba, North Korea, and the former Soviet Union are examples of countries that have command economies, while China maintained a command economy for decades before transitioning to a mixed economy that features both communistic and capitalistic elements.
IamSugarBee
A labor union is an organization that acts as an intermediary between its members and the business that employs them. The main purpose of labor unions is to give workers the power to negotiate for more favorable working conditions and other benefits through collective bargaining.
Has anyone answered this yet?
