A Change from a Technically or Productively Inefficient Mix to an Efficient

question 99

Multiple Choice

A change from a technically or productively inefficient mix to an efficient mix of output would BEST be represented with a production possibilities frontier (PPF) as a _____ the PPF.

• A) shift outward of
• B) shift inward of
• C) movement from inside the PPF onto
• D) movement from a point on the PPF to a point inside

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Definitions:

Free Market

An economic system where prices for goods and services are determined by open competition among businesses, without government intervention.

Radio Pirates

Individuals or organizations that operate a radio station without a legal license, often broadcasting content not covered by mainstream outlets.

Federal Licenses

Official permissions granted by the federal government to individuals or organizations, permitting them to carry out specific activities.

Free Market

An economic system where prices for goods and services are determined by the open market and consumers, in contrast to a controlled or regulated market system.