Production Possibilities Curve Are Usually Bowed Outward

question 98

Multiple Choice

Production possibilities curve are usually bowed outward. This is because

• A) the more resources a society uses to produce one good, the fewer resources it has available to produce another good.
• B) it reflects the fact that the opportunity cost of producing a good decreases as more and more of that good is produced.
• C) of the effects of technological change.
• D) resources are specialized, that is, some are better at producing particular goods rather than other goods.

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Definitions:

Psycho-motor Energy

A term related to the connection between mental processing and physical movement.

Homeostasis

The process by which a living organism or system maintains stable internal conditions necessary for survival, despite changes in the external environment.

Equilibrium

A state of balance or stability, often referring to psychological or emotional balance.

Conscious

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, and experiences.