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Select the correct answer.
What does a production possibilities curve represent?
A.
a combination of price and demand of goods and services
B.
OC.
a combination of the goods produced before and after a change in a factor of production
a combination of two factors of production used to produce a single good or service
COD.
a combination of two goods that can be produced using limited resources

Sagot :

GinnyAnswer

Final answer:

A production possibilities curve illustrates an economy's production choices and the impact of scarcity and comparative advantage.


Explanation:

A production possibilities curve shows the combinations of two goods an economy is capable of producing. The downward slope of the curve implies scarcity, while its bowed-out shape reflects allocating resources based on comparative advantage.


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