1
Question
Who used the concept of the production possibility curve to explain the economic problem of a society?
Who used the concept of the production possibility curve to explain the economic problem of a society?
Open in App
Solution
The correct option is D Professor Samuelson
Professor Paul A Samuelson was
an American economists who proposed many theories on income and its even
distribution and how these two factors leads to growth and development of the
nation where one of his theories emphasized on establishment of an effective
relationship between scarce resource and efficiency in the production of such
resources which he explained by the concept of Production Possibility curve so that all the human wants could be satisfied by the application of
these scarce resources.
Professor Paul A Samuelson was an American economists who proposed many theories on income and its even distribution and how these two factors leads to growth and development of the nation where one of his theories emphasized on establishment of an effective relationship between scarce resource and efficiency in the production of such resources which he explained by the concept of Production Possibility curve so that all the human wants could be satisfied by the application of these scarce resources.
Suggest Corrections
1
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
