Exhibit 2-16 Production Possibilities Curve

question 147

Multiple Choice

Exhibit 2-16 Production possibilities curve
-In Exhibit 2-16, to move from U to B, the opportunity cost:

• A) would be 4 units of consumption goods.
• B) would be 2 units of capital goods.
• C) would be zero.
• D) would be 5 units of capital goods.
• E) cannot be estimated.

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Definitions:

Stakeholder Rewards

Benefits, monetary or otherwise, given to stakeholders of an organization, including employees, customers, and investors, as recognition for their contribution.

Discovering Consumer Needs

The process of identifying and understanding what customers want and require from products or services.

Sales Department

A division within a business that is responsible for selling products or services to customers and generating revenue.

Central Location

A strategic or convenient place for conducting business, usually selected for its accessibility to customers or as a distribution hub.