Examlex
The figure below shows the net primary productivity (NPP) in marine biomes around the world.
The pattern of NPP in marine ecosystems as shown above suggests that
Production Possibilities Frontier
A depiction that captures every maximum production possibility for two specific commodities, predicated on a range of inputs that includes resources and additional variables.
Opportunity Costs
The expense incurred from not selecting the next most favorable choice when a decision is taken or preferring one alternative over another.
Efficient
The characteristic of a resource allocation that maximizes the total surplus received by all members of society.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology, etc.), assuming efficient use of resources.
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