An economy that operates inside its production possibility curve is less efficient than it would be if it were operating on its production possibility curve.

Name: An economy that operates inside its production possibility curve is less efficient than it would be if it were operating on its production possibility curve.
Brand: Quizplus
Rating: 4.7 (38 reviews)

Question

Quizplus · Accepted Answer

An economy operating inside its production possibility curve is not utilizing all its resources efficiently, leading to underproduction compared to its potential output on the curve.

An Economy That Operates Inside Its Production Possibility Curve Is