A reason the production possibilities frontier exists is: A. scarcity of resources. B. scarcity...

Question:

A reason the production possibilities frontier exists is:

A. scarcity of resources.

B. scarcity of resources and unlimited technology.

C. that people's wants are unlimited.

D. unemployment.

E. unlimited resources and technology.

Production:

"Production" is the process of transforming various inputs and raw materials into a final product or service that can be consumed by consumers directly from the market.

Answer and Explanation: 1

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The correct option is A. scarcity of resources.

Production Possibilities Frontier or PPF shows different combinations of two products, goods, or...

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Shifts in the Production Possibilities Curve

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Chapter 1 / Lesson 5
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Learn about the production possibilities frontier (PPF). See what the PPF graph represents and what causes the ppc curve to shift outward.


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