When Constructing a Production Possibilities Frontier,which of the Following Assumptions

question 59

Multiple Choice

When constructing a production possibilities frontier,which of the following assumptions is not made?

• A)The economy produces only two goods or two types of goods.
• B)Firms produce goods using factors of production.
• C)The technology available to firms is given.
• D)The quantities of the factors of production that are available are increasing over the relevant time period.

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Definitions:

Desirable Behaviour

Refers to actions or responses that are encouraged, rewarded, or sought after in a given context, particularly because they achieve positive outcomes.

Managers

Individuals who are responsible for directing and overseeing the work of a group of people in an organization.

Reinforcement Theory

A psychological concept suggesting that behavior can be controlled or modified through the use of rewards or punishments.

Operant Conditioning Strategies

Techniques based on the principle that behaviors can be increased or decreased through rewards and punishments.