Economic action done or brought about by free choice called voluntary exchange.
What is economic action?
Economic action is a term used to describe the economic activities carried out by individuals, businesses, and governments to improve their economic well-being. These activities can include production, consumption, distribution, and exchange of goods and services. Economic action can also involve the use of resources and the exchange of money, as well as the management of capital and investments. Economic action is an important factor in the development, growth, and stability of economies around the world. It is also essential in providing incentives for businesses to produce and invest, and in creating jobs and opportunities for citizens. Economic action can also include public policy decisions made by governments to shape the economic environment. Examples of such policies include taxation, trade agreements, and regulation.
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juul claimed that their product helped people __________, even though there was no independent research to back that up.
JUUL claimed their product helped people quit smoking, but there was no independent research to support this.
What is the best manner to stop smoking?
“The best way to quit smoking is with a combination of medication and counseling," said Maher Karam Hage, M.D., medical director of MD Anderson's Tobacco Treatment Program. "Both are helpful. But using both doubles her chances of using one or the other."
What happens to your body when you quit smoking?
About three days after quitting, most people experience irritability, irritability, severe headaches, and cravings while their bodies readjust. In just one month, a person's lung function begins to improve. As the lungs heal and vital capacity improves, ex-smokers may notice less coughing and shortness of breath.
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on april 1, wall's inventory had a fair value of $150,000, and the property and equipment (net) had a fair value of $380,000. what is the amount of goodwill resulting from the business combination?
First, the identifiable net assets' fair value must be established. Inventory $150,000, P&E (net) $380,000, Liabilities ($120,000), Net Assets $470,000, Cash $60,000.
What is an inventory?Once this has been established, figuring out the goodwill is as straightforward as deducting this sum from the purchase price. ($620,000 divided by $470,000 is $150,000 goodwill). The items and materials that a company keeps on hand with the intent of reselling, producing, or using them are referred to as inventory or stock. Defining the size, location, and shape of stocked commodities is a major focus of inventory management. Inventory is the collective term for all the goods that a business keeps on hand in preparation of reselling them to clients at a profit. In this case, only the newspaper will be regarded as inventory if the vendor delivers newspapers to customers using a vehicle. It will be seen as an asset to treat the car.The items and materials a company buys, makes, or generates with the intention of selling, trading, or manufacturing are considered inventory. Stock trading is another name for this.To learn more about inventory refer to:
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true or false evaluation is the process by which management monitors operations by comparing actual and expected results.
Evaluation is the process by which management monitors operations by comparing actual and expected results.
The above statement is False.
The Given statement is of Controlling.
Controlling:
Control is the management function that compares specified standards with actual business development and takes corrective action in case of deviations.
Management includes all management efforts to ensure that objectives (already set during the planning stage) are achieved. This includes ongoing analysis of the plan and iterative updates to it as needed. The manager's project monitoring component (analyzing whether the project team is following the plan) can easily overlap with project management. Also, not every company or project has its own project manager. If you're a manager and do more project management than you need, a good project management software tool can help.
Managing appointments and deadlines, training employees, evaluating performance, adjusting budget or personnel allocations, and allocating resources are part of management.
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you overhear two co-workers discussing something personal that they had saw on a customer's device. what would you do?
You overhear two co-workers discussing something personal that they had saw on a customer's device. I would do that to explain them they do the wrong according to the privacy policy of the company on customer devices.
The privacy policy is the term which is defined as the legal statement or document in which the disclosures between the one party to other party, uses, and to manager the data of the customers or clients.
The two co-workers discussing something personal that they had saw on a customer's device, they do the wrong or illegal and they have to acknowledge the mistake. The organization should take a strict action. So, that in future the workers should know their restrictions and company's policy.
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how do human services differ from other consumer services?responseshuman services involve the trade of goods that help improve the lives of individuals rather than providing a service based on knowledge or skill.human services involve the trade of goods that help improve the lives of individuals rather than providing a service based on knowledge or skill.human services are nonprofit agencies that help individuals live better lives as opposed to companies that profit from consumer services.human services are nonprofit agencies that help individuals live better lives as opposed to companies that profit from consumer services.human services focus on helping individuals live better lives rather than providing solely commercial or corporate services.human services focus on helping individuals live better lives rather than providing solely commercial or corporate services.human services produce raw products such as agriculture or mining rather than providing a service based on knowledge or skill.
Human services focus on helping individuals live better lives rather than providing solely commercial or corporate services.
Why do you believe that people require fundamental human services?
With the aim of fostering self-sufficiency and satisfaction in people's life, human services aim to assist people in finding stability and can range from meeting their most basic requirements, such as food and shelter, to providing guidance, counselling.
What distinguishes consumer goods from consumer services?
The Consumer services are another category of concurrently generated and consumed intangible goods or services. One of the biggest consumer goods groups is comprised of things that move quickly.
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Which of the following best defines goal?
a. aim or purpose
b. disregard or disrespect
c. freedom from doubt
d. influence
the shorter the forecast period, the more accurately the forecasts tend to track what actually happens. group startstrue or falsetrue, unselectedfalse, unselected
True, Making accurate long-term predictions is far more challenging. Marketing forecasting helps you optimize product and marketing tactics for future performance.
The forecasting process helps you understand the effectiveness of your marketing strategies and puts you in a better position to optimize your efforts going forward.
By understanding the strengths and weaknesses of your campaigns, you can better predict what will work and what techniques to omit altogether.
Businesses can learn more about their prospects in niche markets by using marketing forecasting. The use of market research and historical data allows for more accurate sales forecasting, as well as the identification of emerging needs and trends.
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The right way of asking the question is:
The shorter the forecast period, the more accurately the forecasts tend to track what actually happens, True or False.
rocky mountain bottling company produces a soft drink that is sold for a dollar. at production and sales of 1,000,000 units, the company pays $700,000 in production costs, half of which are fixed costs. at that volume, general, selling, and administrative costs amount to $300,000, of which $50,000 are fixed costs. what is the amount of contribution margin per unit?
The difference between the selling price per unit and the variable cost per unit is the contribution margin per unit. In the breakeven analysis, which is also known as the cost-volume-profit analysis.
This is used to calculate the breakeven point.
How is commitment edge determined?
Commitment edge is determined as Income - Variable Expenses. The commitment edge proportion is determined as (Income - Variable Expenses)/Income
What is commitment edge versus gross edge?
Commitment edge considers just the variable expenses of making an item or administration, while gross edge thinks about all immediate expenses of creation.
First, figure out all of the variable costs.
($800,000 x 0.50) plus (250,000 - 70,000) equals $580,000 in variable costs.
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searching for logical divisions in a subject is a strategy for determining your group of answer choices general purpose. main ideas. specific purpose. blueprint.
One way to zero in on your topic's Main Ideas is to look for natural breaks within the material.
Division's classification structure is appealing because each item is classed as a unique leaf class and inherits attributes from the unique branch from that leaf to the root.
The structure contains the most generic attribute information regarding the classed items. Such categorization systems work for both non-animate natural and artificial sorts.
Logical division classifies organisms poorly. This is mostly because the classification of living species tends to need attention to ancestry and common ancestry rather than just similar traits. Logical division doesn't reveal ancestry.
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The right way of asking the question is:
Searching for logical divisions in a subject is a strategy for determining your ________.
a man borrowed r 3750 at the imple intret 7.5% p.a what will be the um he ha to depoit at the end of 73 day
We will receive Rs. 3806.25 after calculating the sum's simple interest. 3806.25. This implies that a man must deposit Rs. 3806.25 in his account at the end of 73 days.
What is Simple Interest?Simple interest is determined by multiplying a percentage of the principal (original amount) by the investment's duration. The simple interest can then be added to the principal amount to determine the investment's final value.
In its simplest form, interest is expressed as a percentage of the principal. For instance, if you agreed to repay a friend's $100 loan with 5% interest, the interest you would pay would only be 5% of 100: $100(0.05) = $5.
The formula of Simple Interest:
A = P(1+RT/100)
A = 3750(1+7.5×0.2/100)
T = 73/365 = 0.2years
= 3806.25
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what is the present value of a growing perpetuity that has an initial payment of $20,000 one year from now. assume a growth rate of 5% and a rate of return equal to 9%.
This growing perceptuality has a present value of $420,370. Investors will always receive a predetermined amount of cash flow from Perpetuity.
If the discount rate changes, the perpetuity present value changes. The present value will decrease in tandem with an increase in the discount rate.
In Excel, how do you calculate PV of perpetuity?A perpetuity series that is considered to be indefinite and is growing at a proportionate rate in terms of periodic payments. As a result, the formula can be summed up like this: PV is D/ (1+r) + D/ (1+g) + D/ (1+r) 2... It is believed that the perpetuity series will continue for an infinite amount of time.
With an example, what is perceptuality?A growing perpetuity involves cash flows that are not fixed, whereas a perpetuity provides you with fixed cash flows for an infinite period. For instance, a growing perpetuity is an investment in a perpetual fund whose annual payments increase at the same rate.
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Investor presentations of ________ provide an opportunity for discussions to take place regarding the continuing corporate performance on ________ value creation story and a ________ value creation plan.a) short-term plans; short term; short termb) short-term plans; long term; long termc) long-term plans; short term; long termd) long-term plans; long term; long term
Investor presentations of "long-term plans" provide an opportunity for discussions to take place regarding the continuing corporate performance on "long-term" value creation story and a "long-term" value creation plan. The correct option is D.
The long-term plans is the planning in which the target goals which is taken as a longer period of time to reach and need more processes steps.
That's why, most of the investor presentations of long-term plans which is to provide an opportunity for discussions to take place for the continuing corporate performance on long-term value creation story and a long-term value creation plan.
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marginal revenue is not equal to price for a monopolist because: group of answer choices the monopolist's demand curve is below its marginal revenue curve. the monopolist must lower the price of all units in order to sell more. the monopolist sets price equal to marginal cost. total revenue increases as output increases.
the monopolist must lower the price of all units in order to sell more, Because a monopolist must reduce the price of all units to increase sales, marginal revenue and price are not equivalent for a monopolist.
Because there is only one seller under a monopoly, the market is actually the monopolist. Because of this, the monopolist's demand curve slopes downward, meaning that as the price rises, less is demanded. The marginal revenue curve similarly slopes downward, but it is lower than the demand curve because the monopolist must reduce prices across the board as it sells more products to increase sales. This indicates that for a monopolist, the marginal revenue is lower than the price. The marginal revenue is equal to zero when the reserve price and posted price are both optimum.
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does renting or purchasing makes the most sense for the bainters if they live in the house 1 year? 5 years? 10 years? 15 years?
Whether renting or purchasing makes the most sense for the bainters depends on their individual circumstances, including their financial situation, lifestyle preferences, and the local housing market.
However, in general, here are some general guidelines on when renting or purchasing may make the most sense If the bainters plan to live in the house for only 1 year, it is likely that renting would make the most sense. The costs of buying and selling a house in such a short period of time can be high, and the bainters may not have enough time to recoup these costs through appreciation in the value of the property.
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the sum of direct materials and direct labor is called
The complete direct actual costs, including labor and raw materials, are referred to as prime cost.
What advantages does cost have for business?To ensure that all expenses are covered and that the organization chooses a figure that will generate a profit, costing is required. The first and most important step is to identify ALL of a company's costs, including manufacturing, sales, management, and overhead costs.
What kinds of expenses do businesses incur?Costs come in two flavors: fixed and variable. Although both fixed and variable expenses have different effects on the business, both are crucial to its profitability. Definition of the term "volume" will be helpful when discussing expenditures.
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Hasan needs to know how long the design phase of his project will take. What can he do to get that information
Establish checkpoints at the start and end of the phase. Make an automated summary task with all the tasks for that phase in it. Determine the amount of time between the phase's earliest and latest dates.
How can tasks be turned into milestones?Click Task after choosing the milestone. Click Task Information in the Properties group. Enter the milestone duration in the Duration box after selecting the Advanced tab. Click OK after selecting Mark task as milestone.
Can a summary task constitute a milestone?Because a milestone has no duration, it typically serves as a deadline for a variety of tasks that must be completed. A summary task lasts from the beginning of the first subtask to the end.
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a project does not include question 29 options: unique elements. a specific objective. repetitive same or similar work. creating a new product or service.
A project does not include unique elements.
Projects have different characteristics than work in progress or business activities. These are not routine business processes and have fixed start and end dates. This characteristic is important because most of the project effort goes into ensuring that the project is completed on time. To do this, a schedule is created that indicates when the task will start and end.
Projects are time-bound and have fixed start and end dates.A project is completed when the project goals are achieved or when it is determined that the project is no longer feasible.
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which of the following statements regarding stock dividends and stock splits is true? group of answer choices when a 100% stock dividend occurs, the par value is cut in half and the number of shares doubles when a 100% stock dividend occurs, the par value is doubled and the number of shares doubles when a 2-for-1 stock split occurs, there is no change to the par value of the stock, and the number of shares is doubled when a 2-for-1 stock split occurs, the par value is cut in half, and the number of shares is doubled when a 100% stock dividend occurs, the par value is unchanged and the number of shares doubles when a 2-for-1 stock split occurs, the par value is doubled, and the number of shares is doubled
Both a stock dividend and a stock break up make bigger the stability in the frequent inventory account.
Stock splits do no longer enlarge the stability in frequent stock. In fact, journal entries are no longer required for inventory splits. The right answer is B.
What is authentic regarding stock splits?A inventory split happens when a organisation will increase the wide variety of its shares to raise the stock's liquidity.
Although the range of shares exceptional will increase through a unique multiple, the total greenback value of all shares amazing remains the same due to the fact a split does not essentially exchange the company's value.
What happens to dividends when a stock splits?In general, dividends declared after a stock cut up will be decreased proportionately per share to account for the increase in shares outstanding, leaving whole dividend repayments unaffected. The dividend payout ratio of a business enterprise shows the proportion of net income, or earnings, paid out to shareholders in dividends.
Which of the following is no longer actual about a stock dividend?Answer and Explanation: Answer choice: c. Cash dividends paid to stockholders reduce net income. Cash or inventory dividend does now not have an effect on the net income.
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the risk premium question options: a) depends on inflation b) is part of the interest rate c) depends on each person's time value of money d) is a payment that somebody pays to avoid risk
The risk premium is part of the interest rate.
What is interest ?In finance and economics, interest is the payment by the borrower or deposit-taking financial institution to the lender or depositor of an amount in excess of the repayment of the principal at a specified rate. It is different from a fee that a borrower can pay to a lender or a third party.Interest is the price you pay for borrowing money or the cost you charge for lending money.Interest is usually given as an annual percentage of the loan amount.This percentage is called the interest rate on the loan. Interest is the money you borrow when you borrow/receive when you lend. Consumers can earn interest by lending money (through bonds, certificates of deposit, etc.) or depositing money in interest-bearing bank accounts.To learn more about interest from the given link :
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most sales forecasts are based on past sales performances as well as
The majority of sales projections are based on anticipated market conditions as well as historical sales performance.
What often forms the basis of sales forecasts?The health of the sales pipeline, market trends, and prior performance are frequently taken into account in sales estimates. Businesses project biweekly, bimonthly, quarterly, then yearly income totals using the sales forecast.
What is the process of historical forecasting?Sales data from a specific time period is converted to quantifiable earnings trends in historical forecasting. This requires assessing your development over the course of several months, quarter, or years and making the assumption that the percentages should remain unchanged as your profitability rise in the future.
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nonpublic knowledge about a corporation possessed by corporate officers, major owners and other individuals with privileged access to information about the firm is called'
Inside information refers to confidential information about a firm that corporate executives, significant shareholders, and other people with special access to such information may have.
A firm is a for-profit business entity that offers professional services, such as a corporation, limited liability company (LLC), or partnership. Most businesses only have one location. On the other hand, a business company is made up of one or more physical locations that are all owned by the same person and have the same EIN (EIN). The term "firm," when used in a title, is frequently connected to companies that offer expert legal and accounting services, but it may also refer to a wide range of companies, including consulting, marketing, and graphic design firms, among others.
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debbie, along with mick and rory, decided to start a new catering business. she invested her time, money, and efforts in the project, and she directly managed the business development process. in this scenario, debbie is most likely a(n)
Debbie in her collaboration with Mick and Rory is most likely an enterpreneur (D).
To answer this qustion, let's discuss each option's definitions first.
Franchisor refers to a person or company who sell the right to open and sell products using his brand, expertise, and intellectual property to the franchisee. Franchisor and franchisee is related in a franchise relationship. Franchise is often used as one of business expantion strategy by a company.
Fundraiser is a person who is responsible to collect, getting, gathering, or raising money for a business to take place. Fundraiser seeks financial support for a particular purpose.
Client is a type of customer who purchasses a company's professional services. Client seeks advices and solutions from his puchase activity.
Enterpreneur is responsible on creating new business, bearing most of the risks, leading the management, maintaining the business' sustainability.
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Complete Question:
debbie, along with mick and rory, decided to start a new catering business. she invested her time, money, and efforts in the project, and she directly managed the business development process. in this scenario, debbie is most likely a(n) ____
a. Franchisor
b. Fundraiser
c. Client
d. Enterpreneur
A small startup firm has each of the partners contribute $50,000 in capital to help the company make payroll for the next three months. W2 Corp. Needs capital to finance a new product line. It borrows money in the form of long-term bonds underwritten by an investment bank. Citibank issues a loan to Jennifer for the expansion of her flower delivery business. Steve’s grandfather loans him $30,000 to start a small coffee shop in the East Village in Manhattan
None of the options provided are examples of money market instruments.
Money market instruments are typically short-term investments, such as Treasury bills, commercial paper, and certificates of deposit, that are used to raise funds for businesses and governments. They are generally considered to be low-risk and low-return investments, and are often used as a way to park cash or as a source of short-term funding.
The options provided are examples of different focirms of financing: The small startup firm has each of the partners contributing capital to help the company make payroll for the next three months. This is an illustration of equity financing.
W2 Corp. borrows money by issuing long-term bonds that are underwritten by an investment bank. This is an illustration of debt financing.
Jennifer receives a loan from Citibank to help her grow her flower delivery business. This is an illustration of debt financing.
Steve's grandfather lends him $30,000 to open a small coffee shop in Manhattan's East Village. This is an illustration of debt financing.
Steve's grandfather loans him $30,000 to start a small coffee shop in the East Village in Manhattan. This is an example of debt financing.
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The complete question is :
Each partner in a small startup firm contributes $50,000 in capital to help the company make payroll for the next three months.
W2 Corp. requires capital to fund a new product line. It borrows money through long-term bonds issued by an investment bank. Jennifer receives a loan from Citibank to help her grow her flower delivery business.
Steve's grandfather lends him $30,000 to open a small coffee shop in Manhattan's East Village.
Which of the ones that follow is an example of a market instrument??
lease 1 does not contain a bargain purchase option, but the lease term is equal to 70 percent of the estimated economic life of the leased property. lease 2 does not transfer ownership of the property to the lessee by the end of the lease term, but the lease term is equal to 90 percent of the estimated economic life of the leased property. how should the lessee classify these leases? lease 1lease 2 1-operating leasefinance lease 2-operating leaseoperating lease 3-finance leasefinance lease 4-finance leaseoperating lease
Lease 1 should be classified as an operating lease, and lease 2 should be classified as a capital lease.
How should the lessee classify these leases?
Lease 1:
1. Check if the lease contains a bargain purchase option: No
2. Check if the lease transfers ownership of the property to the lessee by the end of the lease term: No
3. Check if the lease term is equal to 90 percent or more of the estimated economic life of the leased property: No
4. Classification: Operating lease
Lease 2:
1. Check if the lease contains a bargain purchase option: No
2. Check if the lease transfers ownership of the property to the lessee by the end of the lease term: No
3. Check if the lease term is equal to 90 percent or more of the estimated economic life of the leased property: Yes
4. Classification: Capital lease
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which of the following is a normative economic statement? which of the following is a normative economic statement? the current high price of milk is the result of reduced worldwide supply. when the price of milk rises, the quantity of milk purchased falls. when the price of milk rises, the cost of milk-based products rises. the price of milk is too high.
The price of milk is excessively expensive, according to economic theory.
Normative economic statements examples include the following "Women should be eligible for larger student loans than men.
Normative economic statements include things like "Women should receive larger student loans than men," "Laborers should receive greater percentages of capitalism profits," and "Working citizens shouldn't pay for medical care." Arguments in favor of normative economics commonly use words like "should" and "ought." Normative economic statements are those that express an opinion or a conclusion. They lack facts and cannot be verified. Comments of this nature usually employ the words "ought" and "should". Positive economics, in contrast, is based on facts and evidence and can be confirmed as accurate or false. It is always feasible to confirm or test whether a statement is accurate, regardless of how difficult it may be. Instance 1 The earth weighs 6 septillion 6 10,000 4 metric tons. Consider this: Raising the minimum wage results in increased teen unemployment. A value judgment is necessary for normative assertions.
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there is a gap between how well the us stock market does, and how the average investor does. what 2 factors explain that gap?
1. Lack of education on investing & market knowledge.
2. Poor decision making based on emotions instead of research.
What 2 factors between US stock market and the average investor’s ?Fees and emotions are the two main factors that account for the discrepancy between the performance of the US stock market and that of the typical investor.
Fees include things like broker commissions and other administrative expenses that come along with buying and selling investments. Over time, even small fees can have a big impact on returns.
Emotions may also play a role. Investors may act irrationally in volatile markets, such as buying high and selling low, which can lower returns.
Investors might also become overconfident and take on more risk than they can handle, or they might become overly fearful and miss out on investment opportunities. Investors can increase their chances of success in the stock market by accounting for fees and emotions.
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a corporation issued 1000 shares of $100 preferred stock for $90. what was the amount of the discount? question 2 options: $90,000 $1000 $9000 $10,000
$1000 was the amount of the discount. The difference between the purchase price and the item's par value is the discount. Discounts are different types of price reductions or deductions from a product's cost.
A discount is a reduction in the regular selling price of a good or service, either in terms of money or as a percentage. A product may, for instance, be discounted by $10 from its list price or by 10% from its list price. In a discounted cash flow (DCF) analysis, the discount rate is the interest rate that is used to calculate the present value of future cash flows. This aids in figuring out whether a project's or investment's potential future cost flows will be worth more than the capital investment required to fund them.
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describe a time when you were asked to meet a deadline. how did you prioritize and were you able to meet all deadlines
A time when you were asked to meet a deadline. Then, I did the prioritize and able to meet all deadlines according to the project management responsibility.
The project management is used to define as the process in the leader leads the working team of their company and it manages the time, budget, scope and efficiency of doing the project work.
The prioritize should be the goal and time in which time interval the project will be done. To complete the project on time, create the list of the project tasks, list the task according to the efforts needed to be done.
The project management skills help in the the prioritize and able to meet all deadlines.
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A reduction in the list price granted to a merchandising business.
answer choices
terms of sale
sale discount
list price
trade discount
A reduction in the list price granted to a merchandising company is trade discount The discount price is the amount that is reduced from the original price.
What is the discount off the list price?A functional discount is a reduction from the list price offered by a seller to buyers in exchange for marketing functions performed by the buyers.
A growing number of companies have expanded beyond traditional retailer-wholesaler boundaries and now sell the same product through two or more structurally distinct channel systems. As a result, the historically synonymous definitions of trade and functional price discounts are no longer applicable. If regulatory agencies continue to use these out-of-date definitions, the Robinson-Patman Act will be difficult to enforce, and distributive innovation will be hampered. The definition of a price discount determines who is (and is not) eligible for the discount, so it is an important starting point for analyzing a discount's competitive effect, which is the primary test under the Robinson-Patman Act. Regulatory agencies should be aware of the pro-competitive effects of price cuts and pursue an enforcement policy that promotes both competition and innovation. The authors provide clarification terminology for trade and functional price discounts.
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Points inside a production possibilities frontier represent .
A production inefficiency is represented by a point inside the production possibility frontier. When an economy's resources are not fully exploited, there is said to be productive inefficiency.
What Function Does the Economic Production Possibilities Frontier Serve?The PPF is a curve that is based on data of two variables that represent resources between two items, therefore the data may be changed to examine how issues like scarcity, growth, inefficiency, and other things might effect production.
What Is the Production Possibilities Frontier Important For?When everything else stays the same, the PPF shows whether resources are being utilised effectively and completely. As a result, you can alter the variables to watch how the curve responds and witness various results.
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There are inefficiencies or underutilizations of resources at certain places inside a production possibilities frontier. The maximum pairs of two items that an economy can create given its resources and technology are depicted on a graph known as the production possibilities frontier.
What is Production Possibilities Frontier?The potential output of an economy is depicted graphically by the Production Possibilities Frontier.It displays the greatest possible combinations of two commodities that can be made with the current technology and resources.All points of efficient production are represented by the Production Possibilities Frontier (PPF), which means that all resources are being used entirely to produce the two goods.Resources, technology, or production methods changes over time may have an impact on how the Production Possibilities Frontier looks.The Production Possibilities Frontier is frequently cited as an example for the economic concepts of comparative advantage, opportunity cost, and scarcity.Economists can learn more about an economy's potential for growth and its capacity for resource allocation by examining the Production Possibilities Frontier.To learn more about Production Possibilities Frontier from the given link :-
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