Economic output has no limits: production possibilities are limitless.

Question

Quizplus · Accepted Answer

Economic output is limited by a variety of factors such as available resources, technology, and labor. These factors establish production possibilities frontiers that limit the amount of goods and services that an economy can produce. Furthermore, there are also environmental and social effects to consider, which place additional constraints on economic production.

Economic Output Has No Limits: Production Possibilities Are Limitless