Question

All the combinations of goods and services that can be produced if all of society's resources are used efficiently are represented on an economy's___________.a. factors of production statement.b. allocative allotment graph.c. production possibility frontier.d. resource availability diagram.

Answer 1

Answer:

C. Production Possibility frontier

Explanation:

The production possibility frontier (PPF) is a graph that shows what levels of output of two goods can be produced using available resources and technology.

Just individuals can not have everything they want and must make choices between different goods, society as a whole also can't have everything it might want either. This PPF depicts constraints faced between the resources