The Human Body and an Oil Refinery Can Both Be

question 74

True/False

The human body and an oil refinery can both be classified as systems.

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Definitions:

Inputs And Outputs

The resources used in the production process (inputs) and the goods or services produced (outputs) in an economic system.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology.

Available Resources

The assets, materials, and inputs that are available for use in the production of goods and services.

Inferior Technology

Technology that is less efficient or effective compared to the available alternatives.