Question

Which point on the Production Possibilities Curve represents a situation in which resources are not being used effectively * A B C D

Answer 1

Answer:

Explain the concept of the production possibilities curve and understand the implications of its downward slope and bowed-out shape.

Use the production possibilities model to distinguish between full employment and situations of idle factors of production and between efficient and inefficient production.

Understand specialization and its relationship to the production possibilities model and comparative advantage.