Figure 2-4 Figure 2-4 Shows Various Points on Three Different Production Possibilities

question 243

Multiple Choice

Figure 2-4

Figure 2-4 shows various points on three different production possibilities frontiers for a nation.
-Refer to Figure 2-4.A movement from Y to Z

• A)represents an increase in the demand for plastic products.
• B)is the result of a decrease in preference for food products.
• C)is the result of advancements in food production technology.
• D)is the result of advancements in plastic production technology.

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Definitions:

Receivables

Debts that customers have towards a firm for items or services that have been received or employed, yet remain unpaid.

Accounts Payable

Money owed by a company to its suppliers or vendors for products or services that have been received but not yet paid for.

Cost of Goods Sold

The direct expenses related to the production of goods sold by a business, including materials and labor costs.

Receivables

Amounts payable to a corporation by its clientele for goods or services that have been delivered or rendered, but are yet to be paid for.