On a Production Possibilities Frontier a Trade-Off Can Be Illustrated

question 12

Multiple Choice

On a production possibilities frontier a trade-off can be illustrated as:

• A) an outward shift.
• B) an inward shift.
• C) a movement from a point inside the frontier to one on the frontier.
• D) a movement along the frontier itself.

Explain the role of social media in e-commerce.

Distinguish between various business models used by online platforms.

Understand the concept of electronic tendering and its mechanisms.

Recognize different payment options available in e-commerce.

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Definitions:

Cutting and Sewing

The process involved in the making of garments, which includes the cutting of fabric according to patterns and sewing them together to create clothing.

Activity-based Costing

A method of accounting that assigns costs to specific activities based on their use of resources, providing more accurate product costing.

Factory Overhead

Indirect costs associated with manufacturing, such as maintenance, utilities, and salaries, not directly tied to production output.

Selling Prices

The cost at which a service or product is made available to purchasers.