Asked by
Engham Zoubie
on Nov 05, 2024
Verified
Points outside a production possibility frontier represent inefficiency.
Production Possibility Frontier
A curve depicting the maximum attainable combinations of two products that may be produced with available resources and current technology.
Inefficiency
A situation where resources are not used in the best possible way, often leading to waste and a lower output than could be achieved.
- Gain an insight into the idea and effects of the production possibility frontier (PPF) and its form.
Verified Answer
WP
Learning Objectives
- Gain an insight into the idea and effects of the production possibility frontier (PPF) and its form.
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