Examlex
Which of the following explains why production rises in most years?
Concave
A shape or curve that is curved inward, resembling the interior of a circle or sphere.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology constraints.
Marginal Rate Of Transformation
The rate at which one good must be sacrificed in order to produce an additional unit of another good, assuming efficient use of resources.
World Price Ratio
The rate at which quantities of goods from two countries are traded for each other.
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