A typical concave (bowed out from the origin) production possibilities curve implies:

A) that economic resources are unlimited.
B) that society must choose among various attainable combinations of goods.
C) decreasing opportunity costs.
D) that society is using a market system to allocate resources.

Concave Production Possibilities Curve

A graphical representation indicating increasing opportunity costs as more of one good is produced, resulting in a bowed-out shape.

Economic Resources

These are the assets, materials, and inputs used to produce goods and services, including labor, capital, and natural resources.

Opportunity Costs

The value of the foregone alternative when a decision is made; essentially, the cost of choosing one option over another.