Asked by
Afsar Shasaltaneh
on Nov 05, 2024Verified
If resources are combined efficiently in production, then the society
A) is producing at the most-desirable point on the production possibility frontier.
B) is producing at a point on the production possibility frontier but not necessarily at the most-desirable point.
C) is producing at a point outside the production possibility frontier.
D) is experiencing economic growth.
Production Possibility Frontier
A graphical representation showing the maximum quantity of goods and services that a society can produce, given its existing levels of labor, technology, and resources.
Efficiently
The optimal use of resources to achieve the best possible outcome or output with minimal waste.
Economic Growth
An increase in the amount of goods and services produced per capita over time, reflecting a growing economy.
- Learn to interpret the demonstration of efficiency and inefficiency portrayed by the Production Possibility Frontier.
Verified Answer
KF
Learning Objectives
- Learn to interpret the demonstration of efficiency and inefficiency portrayed by the Production Possibility Frontier.