_______ determine shape of the production-possibility frontier.

Advertisement and fashion

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Prices and profit

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Technology and resources

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Tastes and profits

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Solution

The correct option is C Technology and resources
For production both resources as well as technology is required at a sufficient and advance level. Therefore, while making Production possibility curve of two commodities it is decided how resources and technology are to be used which decides the shape of PPC.

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Similar questions

State and discuss any two factors that will shift the Production Possibility Frontier (PPF)to the right.

Draft a hypothetical schedule for a straight line Production Possibility Curve.

Good - A (units)	0	1	2	3	4	5
Good - B (units)	65	52	39	26	13	0

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