A Production Possibilities Frontier with a Bowed-Outward Shape Indicates

question 180

Multiple Choice

A production possibilities frontier with a bowed-outward shape indicates

• A)the possibility of inefficient production.
• B)constant opportunity costs as more and more of one good is produced.
• C)increasing opportunity costs as more and more of one good is produced.
• D)decreasing opportunity costs as more and more of one good is produced.

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Definitions:

Direct Exporting

A method of international business where a company sells its products directly to buyers in a foreign market without the use of intermediaries.

Agricultural Producer

An individual or company involved in the cultivation of plants and rearing of animals for food, fiber, and other products.

World Bank

An international financial institution offering loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

Agricultural Exports

Products derived from farming and agriculture that are sold and shipped to other countries, contributing to a nation's economy.