Within the production possibilities frontier (PPF)framework,choice is depicted by the
A) PPF itself.
B) PPF being bowed outward.
C) need to select among the points making up the PPF.
D) straight-line PPF.

Question

Quizplus · Accepted Answer

Within the PPF framework, choice is depicted by the need to select among the points making up the PPF. The PPF represents the various combinations of two goods that can be produced with the given resources and technology. Since resources are scarce, choosing to produce more of one good means giving up some of the production of the other good. Therefore, the decision to produce more of one good and less of another is depicted by choosing a point on the PPF that represents the desired combination of the two goods.

Within the Production Possibilities Frontier (PPF)framework,choice Is Depicted by the