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.
The correct term would be trends. A prediction involves finding trends in the past and present and making an educated guess about what will happen in the future. Making prediction would always require looking what happens in the past years and analyzing how it is being affected by different factors.
Answer:
religious economy
Explanation:
In simple words, Religious economy corresponds to spiritual individuals and organisations engaging with opposing communities and philosophies within a business system. An economy helps religious vendors to satisfy the needs of the numerous religious customers.
The theory of religious economics presents faith as a commodity, and as those that follow or associate as a customer of either faith. Yet as the notion of conviction is introduced into the calculation, the concept extends and the "good" is influenced by politics and who "absorbs" it.
Answer: Positive reinforcement
Explanation:
Positive reinforcement is seen as rewarding an individual for their contribution in a bid to see them improve more. Justin reward to do more for the organization is seen as Positive reinforcement.