In Figure 1

question 92

Multiple Choice

In Figure 1.3, a shift of the production possibilities curve from PP1 to PP2 could be caused by

• A)A decrease in the quantity of raw materials available.
• B)A decline in the production skills of workers.
• C)The use of improved production technology.
• D)All of the choices are correct.

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Definitions:

Warranty

In the sale of goods, a minor term in a contract. The breach of the term would allow the injured party damages, but not rescission of the agreement.

Safety Items

Equipment or products designed to enhance safety and minimize the risk of injury or harm in various settings.

Bald Tires

Tires that have lost their tread, leading to decreased performance and increased risk of accidents.