Production of goods-services

Reference no: EM13759741

The production of any goods or services requires the allocation of resources that otherwise could be used to produce other goods and services, given the available technology. Additional units can be provided only by incurring an opportunity cost.

Tasks:

The production possibilities table given below illustrates the choices of country A in producing guns and butter, assuming efficient resource allocation. Using the data provided in the table, complete the following tasks:

Plot the country's production possibilities curve.

Calculate the opportunity cost of producing guns and butter at each point in the production possibilities curve.

Does the Production Possibilities Curve (PPC) illustrate increasing, constant, or decreasing opportunity cost? Why?

Guns	Butter
25	0
24	6
22	11
18	15
13	18
7	20
0	21

Reference no: EM13759741

Questions Cloud

Explain amazons strategy for slow moving : Explain Amazon's strategy for slow moving, low-volume products and fast moving, high-volume items.

Discuss the ways employers lose NLRB elections : Discuss the ways employers lose NLRB elections. Describe how the acronym T.I.P.S. can assist supervisors in remembering what not to do during campaigns.

Rapid growth of the national debt alarmed : Current debate between the White House and Congress regarding what measures are necessary to address spending and revenues

Effect labor laws had on employers and employees : Identify the effect labor laws had on employers and employees in the post-Depression United States. Name the specific laws that affected unions in the United States.

Production of goods-services : The production of any goods or services requires the allocation of resources that otherwise could be used to produce other goods and services, given the available technology. Additional units can be provided only by incurring an opportunity cost.

Ensure they are hiring ethical employees : Discuss what HR managers can do to ensure they are hiring ethical employees.

Create the tables and relationships from the database : Create the tables and relationships from the database design discussed in Lab 2. Add at least five (5) records into each table (Note: You must determine the field values)

Database application development question : Submit an Executive Memo addressed to the CIO and the board of directors. Last week, the CIO reviewed your presentation and has decided to move forward with your recommendations for improvements.

Describe a typical monitoring and control process : Describe a typical monitoring and control process in project management. Which parameters in project management would you monitor continuously? Also, discuss how project managers can monitor project risks.

User Account

All Pages