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3 years ago

A production possibilities frontier represents the different choices or trade-offs a society faces. True. False..

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2 answers:

IRINA_888 [86]3 years ago

3 0

The correct answer is True.

It is true that a production possibilities frontier represents the different choices or trade-offs a society faces.

In an economy, a production possibilities frontier or PPF is a transformation curve where economist can identify the máximum number of possibilities of two goods when resources are fixed. This serves a Company that has limited resources to make a decision on two things. The graphic shows a curve; one good in the “x” axis and the other one is in the “y” axis.

Makovka662 [10]3 years ago

3 0

The production possibilities frontier also called the production possibilities curve represents the different choices or trade-offs that a society faces given a finite number of resources. This is True.

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Worker hours to produce one barrel of crude oil Worker hours to produce one ton of coal

tiny-mole [99]

Answer:

Explanation:

Taking Country B as a comparison to the United States,

Country B -

1 barrel of oil = 7 hrs

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Country B has the comparative advantage in coal production over US because it takes less time to produce 1 ton of coal. The opposite is true for oil production as US takes less time for 1 barrel of oil.

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