The Slope of a Typical Production Possibilities Frontier Reflects the Fact

question 164

Multiple Choice

The slope of a typical production possibilities frontier reflects the fact that

• A)some systems of market organization are more efficient than others.
• B)the invisible hand always functions smoothly in a market system without government intervention.
• C)when resources are allocated efficiently, it's impossible to produce more of anything without producing less of something else.
• D)production is only possible when resources are allocated efficiently.

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Definitions:

Time Consuming

Activities or tasks that require a considerable or excessive amount of time to complete.

Situation Analysis

An evaluation process that identifies an organization's internal strengths and weaknesses, along with external opportunities and threats.

Strategic Plan

A systematic process for envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.

Current Situation

A phrase referring to the present state or conditions of an event, issue, or circumstance.