Question 6
Basic ConceptsGiven a Production Possibility Curve, if an economy is producing at a point on the curve, then all the resources are being used.......
- A.Efficiently
- B.to produce the goods that the society wants
- C.inefficiently
- D.in a manner that production would be more than consumption
Show the answer and explanation
Answer: A (Efficiently)
Explanation
Points on the PPC show full and efficient use of resources; points inside show waste.