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

Question

Quizplus · Accepted Answer

A production possibilities frontier illustrates the concept of tradeoff, as it shows the different combinations of two goods that can be produced with limited resources. This highlights the idea that producing more of one good requires sacrificing the production of another good.

Which One of the Following Concepts Is Illustrated by a Production