A production possibility curve shows
...A production possibility curve shows
How much of the resources of society are used to produce a particular commodity
The rate of inflation
The rate of unemployment in the economy
The various combinations of two commodities that can be produced
Correct answer is D
The production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
An arrangement of data in rows and columns is referred to as ...
Petroleum 'glut' in international trade means ...
Which of the following is not a component of national income at factor cost? ...
From the table calculate the national income ...