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Hearing That Her Job Has Been Terminated, Eleanor Has Responded

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Hearing that her job has been terminated, Eleanor has responded by saying, "I never will get another job. There is no other work that I can do." Her counselor responds by saying, "There are other jobs that you can do. I will help you consider other types of work." The counselor's statements most clearly fits


Definitions:

Opportunity Cost

The financial setback of forgoing the next highly regarded alternative when determining a course of action.

Technological Advance

Improvements and innovations in technology that increase productivity, efficiency, and economic output.

Machine-making Industry

A sector of the economy focused on the manufacturing and maintenance of machines and mechanical equipment.

Production Possibilities Frontier

A portrayal that shows the maximum achievable production levels for two goods, based on a selection of inputs involving resources and extra factors.

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