Question : Production possibility curve refers to the graphical representation of possible combinations of two goods that can be produced with given __________ and _________.
Option 1: Resources, technology
Option 2: Distribution, income
Option 3: Goods, services
Option 4: None of these
Answer (1)
13th Jan, 2024
Correct Answer: Resources, technology
Solution : The term "production possibility curve" describes the graphical representation of potential pairings of two items that can be manufactured given certain resources and technological capabilities. Hence, the correct option is 1.
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