The Reason the Production Possibilities Curve Is Bowed Outward (Concave)

question 208

Multiple Choice

The reason the production possibilities curve is bowed outward (concave) is

• A) the law of increasing additional cost.
• B) that technology is constantly changing.
• C) that the number of resources is increasing.
• D) that the economy has more capital goods than entrepreneurial effort.

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Definitions:

Pay Received

The compensation or salary that an employee receives from an employer for performing their job duties.

Physical Variables

Factors or conditions in the physical environment that can change and impact outcomes in scientific experiments or real-world settings.

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Mental Challenge

A task or situation that requires cognitive effort and skill to overcome, often used to improve mental function or understand cognitive processes.