Which of the Following Is a Correct Statement About Production

question 106

Multiple Choice

Which of the following is a correct statement about production possibilities frontiers?

• A)An economy can produce only on the production possibilities frontier.
• B)An economy can produce at any point inside or outside a production possibilities frontier.
• C)An economy can produce at any point on or inside the production possibilities frontier,but not outside the frontier.
• D)An economy can produce at any point inside the production possibilities frontier,but not on or outside the frontier.

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Definitions:

Credit Card

A payment card issued by banks that allows users to borrow funds to pay for goods and services, with the promise to pay back the borrowed amount plus interest.

QBO

An abbreviation for QuickBooks Online, a cloud-based accounting software designed for small to medium-sized businesses to manage sales, expenses, and account tracking.

Internal Controls

Processes and procedures implemented by a business to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Customer Transactions

All financial transactions between a business and its customers, including sales, returns, and payments.