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The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the?
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∙ 11y ago
measured by its price
Wiki User
∙ 11y ago
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What is a frontier thesis?
The Frontier Thesis is a theory put forward by historian Frederick Jackson Turner in 1893, suggesting that the American frontier played a pivotal role in shaping American democracy and identity. Turner argued that the idea of limitless land and opportunity in the frontier helped to shape American values of individualism, self-reliance, and equality.
What did theTurner Thesis explain?
The Turner Thesis, proposed by historian Frederick Jackson Turner in 1893, argued that the American frontier played a crucial role in shaping American democracy and national character. Turner believed that the western frontier fostered individualism, self-reliance, and egalitarianism in American society, ultimately influencing the unique American identity.
What is the germ theory of politics?
The germ theory of politics is a metaphor for the idea that small political events or movements can have far-reaching consequences, similar to how small germs can lead to widespread disease. It suggests that seemingly minor political actions or decisions can ultimately influence major outcomes and shape the course of political events.
What was Nikola Tesla's educational background?
Nikola Tesla studied at the Austrian Polytechnic in Graz and the University of Prague before eventually attending the University of Budapest. He excelled in physics and mathematics, laying a strong foundation for his career as an inventor and engineer. Tesla's education provided him with the knowledge and skills necessary to create groundbreaking inventions in the field of electricity and magnetism.
Where would a point of underutilization appear on a product possibilities graph?
below or to the left of the production possibilities frontier
A popular model used to illustrate the concept of opportunity cost is?
The Production Possibilities frontier/curve
What tool helps a producer set up an efficient system of production?
a production possibilities frontier graph
What tool helps producers set up an efficient system of production?
a production possibilities frontier graph
What line that shows different production possibilities for an economy?
production possibilities frontier
A production possibilities frontier with a bowed outward shape indicates?
A production possibilities frontier with a bowed outward shape indicates an increase in opportunity costs as more and more of one good is produced. Some resources are more specialized towards specific tasks.
What are the effects of discrimination in the production possibilities frontier?
The effects of discrimination in the production possibilities frontier is that a given business does not fulfill its ful potential.
Society's production possibilities frontier is based on?
simplifying assumptions, but is still useful for illustrating scarcity, opportunity cost, and economic growth.
Where would a point of underutilization appear on a production possibilities?
below or to the left of the production possibilities frontier
In a production possibilities frontier model a point inside the frontier is?
Attainable.
Where would a point of under utilization appear on a production possibilities?
below or to the left of the production possibilities frontier
Country's consumption possibilities frontier can be outside its production possibilities frontier if?
penis, it's wats good for you. fo'sho man.
