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WAEC Economics 2011 Question 3

Question 3

Basic Concepts

The Production Possibility Curve (PPC) indicates that as more of one good is produced

  1. A.less of the other good is produced.
  2. B.the same quantity of the other good is produced.
  3. C.more of the other good is produced.
  4. D.none of the other good is produced.
Show the answer and explanation

Answer: A (less of the other good is produced.)

Explanation

With fixed resources, producing more of one good means giving up some of the other.