The Typical Production Possibilities Curve Is

question 231

Multiple Choice

The typical production possibilities curve is:

• A)an upward sloping line which is concave to the origin.
• B)a downward sloping line which is convex to the origin.
• C)a downward sloping line which is concave to the origin.
• D)a straight upward sloping line.

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Definitions:

Deming

Refers to W. Edwards Deming, an American engineer, statistician, professor, author, lecturer, and management consultant known for his work in quality management.

Anticipation

The act of expecting or foreseeing something, often involves preparing for future events or changes.

Prevention

The action of stopping something from happening or arising, especially in terms of health and disease.

Proaction

The approach of taking strategic, anticipatory actions to create or control future developments, rather than merely reacting to events as they happen.