If a Production Possibility Frontier (PPF)is Drawn Concave to the Origin

question 65

Multiple Choice

If a production possibility frontier (PPF) is drawn concave to the origin with the quantity of shoes on the X-axis and the quantity of T-shirts on the Y-axis,a movement downward along the PPF reflects:

• A)an increasing opportunity cost of producing T-shirts.
• B)an increasing opportunity cost of producing shoes.
• C)constant opportunity cost of producing T-shirts.
• D)constant opportunity cost of producing shoes.

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Definitions:

Customer Satisfaction

Measures how well a company’s products or services meet or surpass customer expectations.

Job Design

The process of defining how work will be performed and what tasks will be required in a given job.

Empowerment

A management practice of sharing information, rewards, and power with employees so that they can take initiative and make decisions to solve problems and improve service and performance.

Flexibility

The ability to adapt, change or be modified to suit new conditions or situations.