If Opportunity Costs Are Constant, How Would the Production Possibility

question 5

Multiple Choice

If opportunity costs are constant, how would the production possibility frontier be graphed?

• A)as a ray from the origin
• B)as a negatively sloped straight line
• C)as a negatively sloped curve bowed in toward the origin
• D)as a positively sloped straight line

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Definitions:

Stocks

Financial instruments representing ownership shares in a company, allowing investors a claim on part of the company's profits.

Just-in-time Inventory System

A strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Operations Activities

Tasks and processes involved in the production, management, and delivery of goods and services in a business.

Production

the process of creating goods or services by combining various resources like labor, materials, and technology, intended for sale or use.