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WAEC Economics 2019 Question 2

Question 2

Basic Concepts

A point X inside a production possibility curve indicates that

  1. A.resources are fully utilized.
  2. B.the country is poor.
  3. C.some resources are idle.
  4. D.resources are not available.
Show the answer and explanation

Answer: C (some resources are idle.)

Explanation

A point inside the curve means some resources are unemployed or wasted.