A society operates on or inside its production-possibility frontier.

Name: A society operates on or inside its production-possibility frontier.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A production-possibility frontier (PPF) represents the maximum amount of goods and services that can be produced in an economy with a given amount of resources and technology. When a society operates on or inside its PPF, it means that it is efficiently using its resources and technology to produce goods and services. Therefore, the statement is true.

A Society Operates on or Inside Its Production-Possibility Frontier