Which of the following is NOT illustrated by a production possibilities frontier?
A) scarcity
B) opportunity cost
C) necessity for choice
D) who gets the goods

Question

Quizplus · Accepted Answer

The production possibilities frontier (PPF) illustrates concepts such as scarcity, opportunity cost, and the necessity for choice by showing the maximum possible production levels of two goods or services that an economy can achieve with existing resources and technology. However, it does not directly address the distribution of goods or who gets them, which is more related to issues of equity and market mechanisms than the PPF itself.

Which of the Following Is NOT Illustrated by a Production