Scarcity is represented on the production possibilities frontier by …… ?
Select ONE answer:
- the fact that there are only two goods in the diagram.
- technological progress.
- the amount of the good on the horizontal axis forgone.
- the fact there are attainable and unattainable points.
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 4
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