The tradeoffs facing a society can be illustrated in a graph known as the:

Question

Quizplus · Accepted Answer

The production possibilities curve (PPC) is a graphical representation of the tradeoffs that a society must make due to limited resources. It shows the maximum combinations of two goods that can be produced with a fixed amount of resources and technology. Any point on or inside the curve is attainable, while any point outside the curve is unattainable given current resources and technology. The PPC illustrates the concept of opportunity cost, as producing more of one good necessitates producing less of another. Therefore, the PPC is the best choice for illustrating the tradeoffs facing a society.

The Tradeoffs Facing a Society Can Be Illustrated in a Graph