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The production possibilities frontier illustrates

A) all goods that can be produced by an economy.

B) all goods and services that are desired but cannot be produced due to scarce resources.

C) the combination of goods and services that can be produced efficiently.

D) all possible production of capital goods.

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Chika Ilonah
Chika IlonahLv10
14 Oct 2020

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Related questions

1. Where can an economy not produce?

a. Inside its production possibilities frontier

b. On its production possibilities frontier.

c. Outside its production possibilities frontier.

d. At the endpoints of its production possibilities frontier.

Ā 

2. When an economy is operating at a point on its production possibilities frontier, then

a. Consumers are content with the mix of goods and services that are being produced.

b. There is no way to produce more of one good without producing less of the other.

c. Equal amounts of the two goods are being produced.

d. All of the above are correct.

The production possibilities frontier model shows that

a) if consumers decide to buy more of a product its price will increase.

b) a market economy is more efficient in producing goods and services than is a centrally planned economy.

c) economic growth can only be achieved by free-market economies

d) if all resources are fully and efficiently utilized, more of one good can be produced only by producing less of another good.

A point on a nation's production possibilities frontier indicates:

a) levels of production that will cause both unemployment and inflation.

b) combinations of output that are unattainable. given the current stock of resources and technology.

c) that resources are fully utilized in producing the given combination of goods and services.

d) an undesirable combination of goods and services.

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