Asked by
Sidne Hester
on Nov 17, 2024Verified
An economy can produce at any point on or inside its production possibilities frontier, but it cannot produce at points outside its production possibilities frontier.
Production Possibilities Frontier
An illustration that represents the utmost production capabilities for any two commodities, based on a combination of inputs like resources and additional elements.
- Comprehend the constraints and capabilities of an economy in generating goods and services within and beyond its production possibilities frontier.
Verified Answer
NO
Learning Objectives
- Comprehend the constraints and capabilities of an economy in generating goods and services within and beyond its production possibilities frontier.