The Production Possibilities Curve Illustrates the Basic Principle That

question 341

Multiple Choice

The production possibilities curve illustrates the basic principle that

• A) the production of more of any one good will in time require smaller and smaller sacrifices of other goods.
• B) an economy will automatically obtain full employment of its resources.
• C) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.
• D) an economy's capacity to produce increases in proportion to its population size.

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Management campaign to improve worker efficiency using measurements like “time and motion” studies to achieve greater productivity; introduced by Frederick Winslow Taylor in 1911.

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