Thursday, January 1, 2015

What are productive opportunities?

What are productive opportunities?
Productive Opportunities by KayorsA short answer which I hope will help:The definition of what can be produced within an economy or "productive opportunities" would depend on the advancement of technology, the availability and access to resources and also what producers and entrepreneurs can think of at the given time.If you are into economics, a simpler understanding can be derived from the Production Possibilities Frontier Model which also explain the concept of scarcity and opportunity cost. A more in-depth view may be obtained from production theory.

No comments:

Post a Comment