The production possibilities frontier illustrates which of the following economic ideas?

Question

Quizplus · Accepted Answer

The production possibilities frontier illustrates all three concepts: tradeoffs (because producing more of one good requires producing less of another), efficiency (because the points on the frontier represent the most efficient combination of producing two goods), and opportunity cost (because in order to produce more of one good, some of the other good must be sacrificed). Therefore, D is the correct choice.

The Production Possibilities Frontier Illustrates Which of the Following Economic