All categories

3 years ago

The production possibilities curve illustrates the basic principle that

Business

1 answer:

krok68 [10]3 years ago

6 0

Answer:

If all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

Explanation:

The concept of production possibility curve shows the different commodities that can be produced in a given economy, given the prevailing level of technology, if all available resources are efficiently utilized. The idea behind production possibility curve is that in other for in order to produce a particular commodity, the production of another commodity has to be scarified provided that i.e if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

You might be interested in

The labor-supply curve is affected by the trade-off between labor and leisure.

NikAS [45]

TRUE.

The labor-supply curve is affected by the trade-off between labor and leisure.

The opportunity cost of leisure depends on the wage rate, it increases and people supply more labor. Main factors determining the labor supply curve how desirable the work appears to its employees relative to the alternatives available in the market.

Other factors that encourages are government policies and procedures that are labor and trade effective or not. The quantity of workers trained for a particular job specifications. The number of workers in economy and the education required further.

To learn more about labor supply here,

brainly.com/question/23876084

#SPJ4

4 0

1 year ago

Why do people establish their own business?

blagie [28]

Answer:

financial freedom

Explanation:

the reasons people start their own business is usually because they desire financial freedom meaning they would like have more disposable resources for themselves.

8 0

2 years ago

Karen and Mike currently insure their cars with separate companies, paying $400 and $600 a year. If they insured both cars with

Papessa [141]

Answer:

$1,720

Explanation:

Total annual premium for both Karen and Mike = $400 + $600 = $1,000

If they insured both cars with the same company, they would save 15% on the annual premiums -> the annual saving = 15% * $1,000 = $150

We use formula FV to calculate the future value of annual payment:

= FV(rate, number of payment, - payment) = FV(3%,10,-150) = $1,720

4 0

2 years ago

Consider the market for pens. Suppose that increased medical concerns over lead pencils have led schools to steer away from penc

LiRa [457]

Answer: False

Explanation:
Being able to determine the effect on price would have to be circumstantial

4 0

3 years ago

Which school faculty member should you talk to about enrolling in an AP<br> course?

gregori [183]

Answer: The guidance counselor

Explanation:

Social worker is someone who helps people cope with the challenges tahtnthwy face in their lives. Social workers work with people who have addiction issues, people with disabilities, children etc.

A paraprofessional refers to someone who's specially trained to support students in school. Such oeeosn can be a teaching assistant, special education paraprofessional etc.

A registrar is the keeper of records in an educational institution whinis charged with the responsibility of registering students, and keeping their academic records.

The guidance counselor is a professional who provides career, academic, and social-emotional competencies to the students in a schoool through counseling. Such person is the faculty member smtaht you should talk to about enrolling in an AP.

course?

3 0

2 years ago