-The above figure is referred to as a(n)
A)trade-off curve.
B)opportunity curve.
C)production possibilities curve.
D)scarcity-shortage curve.

Question

-The above figure is referred to as a(n)
A)trade-off curve. 
B)opportunity curve. 
C)production possibilities curve. 
D)scarcity-shortage curve.

Quizplus · Accepted Answer

The figure is referred to as a production possibilities curve, which illustrates the maximum possible output combinations of two goods or services that can be produced within a given period, given the available resources and technology.

-The Above Figure Is Referred to as A(n)