Q2: Consider a ppf drawn with x on the horizontal axis and y on the vertical axis . which of the following concepts can be used to explain why this production possibility frontier could be flat at
relatively lows levels of X and steep at relatively high levels ?
A- Full use of resources
B- Increasing marginal cost
C- Scarcity
D- Trade

what are the sentences? so we can answer the question.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

the answerr would be 1

answer; capital structure decision;