Asked by
khurram shafique
on Nov 05, 2024
Verified
If an economy begins to use its resources more efficiently, it will move
A) closer to its ppf.
B) farther away from its ppf.
C) from a point along its ppf to a point outside its ppf.
D) from one point to another point along its ppf.
Ppf (Production Possibility Frontier)
A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology, when resources are fully and efficiently utilized.
Efficiently
Achieving maximum productivity with minimum wasted effort or expense.
- Determine the elements that cause shifts or movements along the Production Possibility Frontier, including advancements in technology or alterations in resources.
- Gain insight into the depiction of efficiency and inefficiency via the Production Possibility Frontier.
Verified Answer
JD
Learning Objectives
- Determine the elements that cause shifts or movements along the Production Possibility Frontier, including advancements in technology or alterations in resources.
- Gain insight into the depiction of efficiency and inefficiency via the Production Possibility Frontier.