The Production Possibilities Frontier

question 24

Multiple Choice

The production possibilities frontier

• A)is the boundary between attainable and unattainable levels of production.
• B)is the boundary between what we want to consume and what we want to produce.
• C)shows how production increases as prices rise.
• D)shows prices at which production is possible and impossible.
• E)illustrates why there need not be any scarcity in the world.

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Definitions:

Reflex

A simple, automatic response to a sensory stimulus, such as the knee-jerk response.

Sensory Stimulus

An external event or factor that influences a sensory organ, leading to a sensory response or perception.

Action Potential

A rapid, temporary change in electrical potential across a cell membrane, leading to the transmission of nerve impulses.

Neural Network

A computational model designed to simulate the way the human brain processes information, consisting of interconnected nodes or neurons.