A Nation's Production Possibilities Curve Is "Bowed Out" from the Origin

question 143

Multiple Choice

A nation's production possibilities curve is "bowed out" from the origin because:

• A)resources are not equally efficient in producing every good.
• B)the originator of the idea drew it this way and modern economists follow this convention.
• C)resources are scarce.
• D)wants are virtually unlimited.

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Definitions:

Social Organization

The structured arrangement of relationships and roles within a society, contributing to its orderly functioning and cultural practices.

Politics

Politics refers to the activities associated with governance of a country or area, especially the debate among individuals or parties having power.

Expatriates

Employees who are temporarily transferred to work in a country other than their home country.

Repatriates

Individuals who return to their home country after living or working abroad, often facing re-adjustment challenges.