Which of the following is NOT illustrated by a production possibilities frontier?
A) Opportunity cost
B) Scarcity
C) The necessity for choice
D) Who gets the goods

Question

Quizplus · Accepted Answer

The production possibilities frontier (PPF) illustrates concepts such as opportunity cost, scarcity, and the necessity for choice by showing the maximum possible production levels of two goods or services that an economy can achieve when all resources are fully and efficiently utilized. However, it does not show who gets the produced goods, which is a matter of distribution rather than production efficiency.

Which of the Following Is NOT Illustrated by a Production