An Inefficient Outcome on the Production Possibilities Frontier Might Be

question 119

Multiple Choice

An inefficient outcome on the production possibilities frontier might be characterised by:

• A)equity
• B)unemployment
• C)increased output
• D)a reduction in the production of computers

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Definitions:

Losers

This term can refer to individuals or entities that do not succeed in a specific endeavor, competition, or economic situation.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to potential trade benefits.

Specialize

To focus on a specific area of expertise or production, often to increase efficiency or achieve a higher level of skill in that domain.

Producers Worse Off

A situation where producers face decreased profitability or increased costs due to economic changes.