An Inward Shift of a Nation's Production Possibility Frontier Can

question 35

Multiple Choice

An inward shift of a nation's production possibility frontier can occur due to:

• A)a reduction in unemployment.
• B)a natural disaster like a hurricane or bad earthquake.
• C)a change in the amounts of one good desired.
• D)an increase in the labour force.

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Definitions:

Psychological Needs

Fundamental emotional or mental requirements that, when satisfied, motivate behavior to meet them, such as love, esteem, and belonging.

Personal Pleasure

A sense of satisfaction or enjoyment derived from personal activities or interests.

Decision Process

The series of steps a consumer goes through before, during, and after making a purchase.

Product

Anything offered to the market for use or consumption that might satisfy a want or need, including physical items, services, experiences, events, persons, places, properties, organizations, information, and ideas.