A Production Possibilities Frontier Will Shift Outward If There Is

question 193

True/False

A production possibilities frontier will shift outward if there is an improvement in technology.

Discern the difference between shareholder theory and utilitarianism and their implications for ethical business practices.

Understand the role of whistleblowing and its implications on a company’s reputation and ethical stance.

Identify strategies to avoid common decision-making pitfalls, such as confirmation bias and neglect of probability.

Understand the significance of mentorship and guidance in professional decision making.

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Definitions:

Economies Of Scale

A situation in which the cost per unit of output decreases as the scale of production increases, due to factors such as operational efficiencies and synergies.

Renewable Natural Resources

Resources that can be replenished naturally over time, such as solar energy, wind energy, and biomass.

Natural Capital

The world's stocks of natural assets, including geology, soil, air, water, and all living organisms, which provide humans with a wide range of services.

Fossil Fuels

These are natural fuels such as coal, oil, and natural gas, formed from the remains of living organisms and used for energy.