The Bowed Shape of the Production Possibilities Frontier Can Be

question 115

Multiple Choice

The bowed shape of the production possibilities frontier can be explained by the fact that

• A)all resources are scarce.
• B)economic growth is always occurring.
• C)the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.
• D)the only way to get more of one good is to get less of the other.

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Definitions:

Hierarchy of Needs

A theory proposed by Abraham Maslow outlining a five-tier model of human needs, from basic physiological needs to self-actualization, each level needing to be fulfilled before moving to the next.

Cognitive Needs

Mental requirements essential for the growth and development of an individual, such as knowledge, comprehension, and curiosity.

Overprotected

A situation where an individual is shielded excessively from potential risks or harms, possibly hindering their development or independence.

Self-Actualization

The process of realizing and fulfilling one's potential, talents, and capabilities, considered the highest level of psychological development in Maslow's hierarchy of needs.