A _________ is the locus of all such combinations of two commodities which can be produced in a country with its given resources and technology.

demand possibility curve

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production possibility curve

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supply possibility curve

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growth possibility curve

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Solution

The correct option is B production possibility curve
Production possibility curve is an indicator that shows all the different attainable combinations of production of two commodities that can be achieved in an economy with the given resources and technology, when they are fully utilized.

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Similar questions

Name the situation reflected by an economy which produces a combination of goods that lie below its production possibility curve.

Statements:

No hill is a mountain.

All Himalayas are mountains.

All Alps are hills.

Conclusions:

I. Alps being Himalayas can never be a possibility.

II. Some mountains being Alps is a possibility.

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