Question

The production possibilities frontier is used to illustrate some basic economic ideas, including a. scarcity. b. opportunity cost. c. economic growth. d. All of the above are correct.

Answer 1

d. All of the above are correct.

Step-by-step explanation:

• The Production Possibility Frontier is a graphical demonstration that shows all the different combinations of the outputs of the two goods that can be produced using the available resources and the technology. And this captures the concepts of the scarcity, trade-offs and trade-offs.