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Author Question: The production possibilities curve depicts the various combinations of two goods that can be: a. ... (Read 69 times)

plus1

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on: Jun 30, 2018
The production possibilities curve depicts the various combinations of two goods that can be:
 a. interchanged among two countries.
  b. produced with a given technology.
  c. consumed with a given quantity of resources.
  d. produced with increments in resources and changes in technology.
  e. consumed as the resources increase.

Question 2

The production possibilities curve illustrates all of the following concepts except:
 a. the law of increasing costs.
  b. unlimited wants.
  c. scarcity.
  d. opportunity cost.
  e. availability of resources.


firehawk60

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


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