On a Production Possibilities Curve Diagram, Greater Entrepreneurship

question 24

Multiple Choice

On a production possibilities curve diagram, greater entrepreneurship:

• A) causes the curve to shift outward.
• B) keeps the economy on the curve.
• C) prevents movement along the curve.
• D) keeps the economy at the corners of the curve.

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Definitions:

Intangibles

Non-physical assets that cannot be easily quantified but have value, such as intellectual property, goodwill, and brand reputation.

Customer Goodwill

Refers to the favorable reputation a business gains due to positive customer experiences and is seen as an intangible asset.

Outsourcing

The practice of having certain job functions or tasks performed by external entities or individuals, typically to reduce costs or improve efficiency.

Complexity

Refers to the state of having multiple interconnected parts, making a system or problem challenging to understand, predict, or control.