Which of the following best states the purpose of using a production possibilities frontier?
Question 3b of 10 - PPF
- Maximum Attempts: 1
- Question Type: Multiple Choice
- Maximum Score: 2
- Question: Which of the following best states the purpose of using a production possibilities frontier?
- Pursuing the profit motive
- Maximizing revenue
- Balancing economic goals
- Setting up efficient production
The correct answer is: Setting up efficient production. A production possibilities frontier graph shows the maximum amounts of two or more goods a person or group of people can produce given the inputs available.
2 total views, 1 views today