The downward-sloping nature of production possibilities curves reflects which basic truth of economics?
A) Money can buy anything people want.
B) A lower price means people will buy more.
C) When people make choices, they have opportunity costs.
D) People are happiest when they have fewest goods.

Question

Quizplus · Accepted Answer

The downward-sloping production possibilities curve illustrates the concept of opportunity cost, showing that to produce more of one good, a society must decrease production of another good, hence incurring a cost for the choice made.

The Downward-Sloping Nature of Production Possibilities Curves Reflects Which Basic