The Figure Given Below Represents the Production Possibilities Curve for Goods

question 52

Multiple Choice

The figure given below represents the production possibilities curve for goods and services in an economy.Figure 2.3

-Refer to Figure 2.3. The movement from Curve X to Curve Y indicates a(n) :

• A)contraction in the production of goods.
• B)contraction in the production of services.
• C)expansion in the ability to produce both goods and services.
• D)expansion in the ability to produce goods.
• E)expansion in the ability to produce services.

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Definitions:

Capability

The ability, skill, or expertise that an organization or individual has which enables them to achieve their objectives and perform effectively.

Strength

In the context of SWOT analysis, refers to the inherent advantages or positive attributes an organization possesses which can be leveraged to achieve its goals.

SWOT Analysis

A tool used in strategic planning that assesses the Strengths, Weaknesses, Opportunities, and Threats associated with a project or enterprise.

Strategic Planning

Involves outlining an organization's vision, goals, and tactics to achieve long-term success and competitive advantage.