All the combinations of goods and services that can be produced if all of society's resources are used efficiently are represented on an economy's
A) production possibility frontier.
B) resource availability diagram.
C) factors of production statement.
D) allocative allotment graph.

Question

Quizplus · Accepted Answer

The production possibility frontier (PPF) represents all the combinations of goods and services that can be produced if all of society's resources are used efficiently. It illustrates the trade-offs and opportunity costs of allocating resources between different goods and services.

All the Combinations of Goods and Services That Can Be