Question

Who used the concept of the production possibility curve to explain the economic problem of a society?

• A. Professor Ragner Frisch
• B. Professor Marshall
• C. Professor Samuelson
• D. Professor Keynes

Answer 1

Answer: (C)

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.