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.
The outward shift to the production possibility curve could be due to ...
The best method to curb inflation in Nigeria is to ...
When a firm is reaping economies of large-scale production, it experiences a fall in its ...
If a country imposes a barrier on trade, the resultant effect will be ________ ...
Producers operating in a free market economy are more efficient as a resulf of? ...
The shape of a production possibility frontier is determined by the ...
Economic problem arise in all society because? ...
Utility is the satisfaction derived from____________ ...
As long as marginal utility is positive, total utility must be ...