In the production possibilities model,the vertical axis measures ________ and the horizontal axis measures ________.
A) the quantity of a good or service; the quantity of another good or service
B) the price of a good or service; the quantity of the good or service
C) the price of a good or service; the price of another good or service
D) the quantity of a good or service; time
E) people's wants; the quantity of a good or service

Question

Quizplus · Accepted Answer

The production possibilities model is used to illustrate the trade-offs in production between two different goods or services, with each axis representing the quantity of one of the goods or services.

In the Production Possibilities Model,the Vertical Axis Measures ________ and the Horizontal