A production possibilities frontier (PPF) is a function that shows the different combinations of two goods that can be produced by a country, firm, or any other economic agent, given a fixed initial endownment of factors of production that is totally consumed. Therefore, the points in the function take the following form: (x ,y)= (quantity produced of good x, quantity produced of good y).
The PPF function also represents two crucial economic concepts: efficiency and opportunity cost. The opportunity cost is defined as the value of the best alternative rejected when making a decision. When moving along the PPF line, if a combination is chosen so that a extra unit of good x is produced, some units of good y need to be given up (due to the fixed amount of inputs available). Those given up units would constitute the opportunity cost.
<u>Combinations of x and y located along the curve are efficient because they represent output quantities obtained by using the whole factor endowment available.</u> Points located below the curve are considered inefficient because they represent inferior levels of production than the ones that could be generated given the amount of resources available. On the other hand, points located above the PPF curve are impossible, because they represent bundles of x and y that cannot be manufactured given the initial endowment of resources.
We can relate that young people actually imitate what their peers do. Researches has shown this over and over again.
According to researchers, teens who start smoking typically have <u>friends</u> who model smoking and offer cigarettes.
<h3>Peer pressure</h3>
Peer pressure is known to be a way by which someone is actually influenced by someone, a character or a group of people.
Research has shown that young people are easily influenced by their friends. Friends can either make or mar someone.
A lot of young people today are into various addictions because of the issue of peer pressure.
Learn more about peer pressure on brainly.com/question/11982510
Answer: Selective optimization with compensation
Explanation: Based on the above scenario the principle at work is Selective optimization with compensation. This theory was developed by Paul and Margaret Baltes, that individuals try to maintain a balance in their lives by looking for the most effective way to compensate for physical and cognitive losses and to become better in activities they can already do well.
Great power and prosperity or the golden age
