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The Figure Given Below Shows a Shift in the Production-Possibility

question 38

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The figure given below shows a shift in the production-possibility curve of a country from AB to AC. Here, S1 and C1 are the initial production and consumption points respectively. S2 and C2, on the other hand, are the final production and consumption points respectively. Which of the following is illustrated by this figure? The figure given below shows a shift in the production-possibility curve of a country from AB to AC. Here, S<sub>1</sub> and C<sub>1</sub> are the initial production and consumption points respectively. S<sub>2</sub> and C<sub>2</sub>, on the other hand, are the final production and consumption points respectively. Which of the following is illustrated by this figure?   A) The mechanism of reversal in trade pattern B) The validity of the product cycle hypothesis C) The immiserizing growth effect in a large country D) The benefits of trade in a small country


Definitions:

Homology

The existence of shared ancestry between a pair of structures, or genes, in different species.

Reversal

The act of changing direction, position, or an earlier decision, often used in various contexts including behavior, decision-making, and physical movements.

Linnaean Categories

Hierarchical levels of classification in biology developed by Carl Linnaeus, including kingdom, phylum, class, order, family, genus, and species.

Hierarchical

Describing a system or organization in which people or groups are ranked one above the other according to status or authority.

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