Asked by
Robert Rogers
on Nov 05, 2024
Verified
An example of forgoing present benefits in order to receive future benefits is
A) production.
B) saving.
C) consumption.
D) growth.
Forgoing Benefits
The benefits that are lost when choosing one alternative over another; also known as opportunity cost.
Present Benefits
Advantages or positive outcomes that are received or enjoyed currently, as opposed to in the future.
Future Benefits
Projected advantages or positive outcomes expected to be received in the future.
- Explain the connection between investment, savings, and economic growth with movements in the Production Possibility Frontier.
Verified Answer
FS
Learning Objectives
- Explain the connection between investment, savings, and economic growth with movements in the Production Possibility Frontier.