Which of the Following Is Assumed in Constructing a Typical

question 160

Multiple Choice

Which of the following is assumed in constructing a typical production possibilities curve?

• A)the economy is using its resources inefficiently.
• B)resources are perfectly shiftable among alternative uses.
• C)production technology is fixed.
• D)the economy is engaging in international trade.

---

Definitions:

Lease Cost

Lease cost refers to the expense incurred by leasing property or equipment, including monthly payments, maintenance, taxes, and other associated fees.

Rate of Return

The increase or decrease in value of an investment during a particular time frame, represented as a percent of the investment's initial cost.

Supply Chain Network Design

The process of defining a supply chain's structure, including the selection of locations for production, storage facilities, and transportation routes.

Uncertainty

Denotes the lack of predictability in the outcome of events or in the availability of information, affecting decision-making processes and strategic planning.