The bowed shape of the production possibilities frontier can be explained by the fact that

a. economic growth is always occurring.

b. the only way to get more of one good is to get less of the other.

c. the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.

d. all resources are scarce.

Question

Business

Jaden Owens

5 April, 06:36

The bowed shape of the production possibilities frontier can be explained by the fact that

a. economic growth is always occurring.

b. the only way to get more of one good is to get less of the other.

c. the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.

d. all resources are scarce.

+1

Answers (2)

Know the Answer?

Lesly Carson · Answer 1

The answer is: b

Explanation:

The production possibilities frontier (PPF) or production possibilities curve is an economic model that represents the allocation of production between two goods under resource constraints. The curve itself illustrates the possible combination of goods that can be produced under constrained conditions (scarcity) whereas the curve's convex shape shows the increasing trade off (foregone production) of producing more of one good by producing less of another.

Jovan Zhang · Answer 2

I guess the best option is letter C.

The bowed shape of the production possibilities frontier can be explained by the fact that the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.