A production possibility curve shows?

Economics JAMB 1987

A production possibility curve shows?

  • how much of the resources of society are used to produce a particular commodity
  • the rate of inflation
  • the rate of unemployment in the economy
  • the various combinations of two commodities that can be produced checkmark

The correct answer is: D

Explanation

The production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors. The PPF assumes that all inputs are used efficiently.
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