Which one of the following concepts is illustrated by a production possibilities frontier?
A)profit
B)consumption
C)investment
D)property rights
E)tradeoff

Question

Quizplus · Accepted Answer

A production possibilities frontier represents the tradeoff between producing one good or service over another. It shows the maximum amount of one good that can be produced given the production of another good, given limited resources. Therefore, the concept that is illustrated by a production possibilities frontier is tradeoff.

Which One of the Following Concepts Is Illustrated by a Production