A curve showing alternative combinations of goods that can be produced when available resources are used efficiently is known as the _____

Question

Quizplus · Accepted Answer

The production possibilities frontier shows the different combinations of goods that can be produced with given resources and technology. It illustrates the concept of opportunity cost, as producing more of one good requires giving up some of the production of another. The other choices (A, B, C, D) are not correct descriptions of this concept.

A Curve Showing Alternative Combinations of Goods That Can Be