which is a graphical representation of the combination of goods and services that can be produced in a situation
  • Amir only has time to study or to play basketball
  • it compares proaction numbers of one product to another
  • production possibility curve
  • a currently unattainable production
opportunity cost occurs because of a producer's need to
  • Amir only has time to study or to play basketball
  • allocate resources
  • a currently unattainable production
  • tradeoffs
how does a production possibility chart assist in outlining opportunity cost?
  • it compares proaction numbers of one product to another
  • Amir only has time to study or to play basketball
  • a currently unattainable production
  • production possibility curve
on a production possibility curve, data points that fall outside of the curve represent
  • production possibility curve
  • it compares proaction numbers of one product to another
  • Amir only has time to study or to play basketball
  • a currently unattainable production
one method for studying opportunity cost is to think in terms of
  • allocate resources
  • Amir only has time to study or to play basketball
  • revenue
  • tradeoffs
assessing opportunity cost involves
  • making choices and dealing with consequences
  • Amir only has time to study or to play basketball
  • a currently unattainable production
  • it compares proaction numbers of one product to another
Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers?CHECK ALL THAT APPLY.High school athletes stop shopping there.The inventory of sports socks goes unsold.Publicity for the store declines.Profits decline because dress shoes cost less than sneakers.
  • losing extra time to spend with his friends
  • It compares production numbers of one product to another.
  • A. High school athletes stop shopping there.B. The inventory of sports socks goes unsold.
  • making choices and dealing with consequences.
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