passwella.
Menu

JAMB Economics 1991 Question 11

Question 11

Basic Concepts

If a society is operating on the production possibility curve, this implies that the resources are

  1. A.fully and efficiently utilized
  2. B.fully but inefficiently utilized
  3. C.efficiently but not fully utilized
  4. D.abundant
Show the answer and explanation

Answer: A (fully and efficiently utilized)

Explanation

Points on the PPC show the most that can be produced with all resources employed efficiently; points inside show waste or unemployment.