1
Question
The Production Possibility Curve is ______.
The Production Possibility Curve is ______.
Open in App
Solution
The correct option is B Downward sloping cure
The production possibilities frontier is downward sloping: producing more of one good requires producing less of others. The production of a good has an opportunity cost. As time passes, the production possibilities frontier shifts outward due to the accumulation of inputs and technological progress.
The production possibilities frontier is downward sloping: producing more of one good requires producing less of others. The production of a good has an opportunity cost. As time passes, the production possibilities frontier shifts outward due to the accumulation of inputs and technological progress.
Suggest Corrections
0
Similar questions