Asked by
karla infante
on Nov 05, 2024
Verified
Refer to Figure 2.1. Macroland is currently operating at Point A. The best explanation for this is that
A) the economy has very poor technology.
B) the economy's resources are being used inefficiently.
C) the economy has very few resources.
D) the economy operates as an efficient market.
Inefficiently
Operating in a manner that does not maximize output or outcomes for a given set of resources, often leading to wastage or less optimal performance.
Poor Technology
The state of having outdated or inefficient technological resources or capabilities.
Efficient Market
A market in which profit opportunities are eliminated almost instantaneously.
- Understand how efficiency and inefficiency are depicted by the PPF.
Verified Answer
DE
Learning Objectives
- Understand how efficiency and inefficiency are depicted by the PPF.