The production possibilities frontier ……. ?
Select ONE answer:
- depicts the boundary between those combinations of goods and services that can be produced and those that cannot given resources and the current state of technology.
- shows how many goods and services are consumed by each person in a country.
- is a graph with price on the vertical axis and income on the horizontal axis.
- is a model that assumes there is no scarcity and no opportunity cost.
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS5 classes.
The answer is 1
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