On the Vertical Axis, the Production Possibilities Frontier Shows ________;

question 168

Multiple Choice

On the vertical axis, the production possibilities frontier shows ________; on the horizontal axis, the production possibilities frontier shows ________.

• A) the quantity of a good; the number of workers employed to produce the good
• B) the quantity of a good; the price of the good
• C) the quantity of a good; a weighted average of resources used to produce the good
• D) the quantity of one good; the quantity of another good

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Definitions:

Net Sales

The amount of sales revenue after deducting sales returns, allowances, and discounts.

Balanced Scorecard

A strategic planning and management system used to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor performance against strategic goals.

Inventory

The total amount of goods and materials held by a company for the purpose of resale or production.

On Hand

Refers to the amount of inventory currently available or in stock in a business for use or sale.