Column $A{?}_{(})$

Production

Possibilities

Frontier $($PPF$)$

Law of Increasing

Opportunity Costs

Productive

Efficient

Productive Inefficient

Technology

Comparative Advantage

Column $"$B$"$

A$.$ The body of skills and knowledge involved in the use of resources in production. An advance in technology commonly increases the ability to produce more output with a fixed amount of resources or the ability to produce the same output with fewer resources.

B$.$ The condition where less than the maximum output is produced with the given resources and technology. Productive inefficiency implies that more of one good can be produced without any less of another being produced.

C$.$ The condition where the maximum output is produced with the given resources and technology.

D$.$ As more of a good is produced, the opportunity costs of producing that good increase.

E$.$ The possible combinations of two goods that can be produced in a certain period of time under the conditions of a given state of technology and fully employed resources.

F$.$ The situation where someone can produce a good at lower opportunity cost than someone else can.