Please Define the Following Key Terms

question 79

Short Answer

Please define the following key terms.
- Evilya Celebi

---

Definitions:

Production Possibilities Frontier

A curve depicting the maximum output of two goods that can be produced with given resources and technology, assuming all resources are fully utilized.

Improvement In Technology

Enhancements or advancements in technology that increase productivity or efficiency, often leading to economic growth.

Annuity Due

An annuity for which the payments are made at the beginning of each period, as opposed to the end in a regular annuity.

Ordinary Annuity

A series of equal payments made at regular intervals, with the distinguishing characteristic that payments are made at the end of each period.