Which of the following concepts are illustrated by the production possibilities curve?
A)scarcity
B)choice
C)trade-offs
D)all of the above

Question

Which of the following concepts are illustrated by the production possibilities curve?
A)​scarcity
B)​choice
C)​trade-offs
D)​all of the above

Quizplus · Accepted Answer

The production possibilities curve illustrates all the concepts listed; scarcity, choice, and trade-offs. The curve shows the limitations of available resources and the need to make choices about what goods to produce. The trade-offs involved in choosing to produce one good over another are also demonstrated by the curve. Therefore, the answer is D, all of the above.

Which of the Following Concepts Are Illustrated by the Production