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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Explain why societies cannot make a choice above their production possibilities frontier and should not make a choice below it.

To determine

The societies cannot make a choice above the production possibilities frontier and should not make a choice below it.

Explanation

The societies cannot make choices about the curve describes it be impossible curve while the choice made below it describes it as an inefficient choice. The PPF curve also describes that there is scarcity of resources, opportunity costs, ...

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