What model is used by economists to illustrate efficient combinations of the production of two goods within an economy?
A) the production possibilities frontier (PPF)
B) maps
C) the market model
D) cost curves

Question

Quizplus · Accepted Answer

The Production Possibilities Frontier (PPF) is a model used by economists to illustrate the efficient combinations of the production of two goods within an economy, showing the maximum amount of one good that can be produced for any given production level of the other.

What Model Is Used by Economists to Illustrate Efficient Combinations