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1.1 Economic methodology and the economic problem

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Question 45

A production possibility frontier (PPF) illustrates

A

the maximum output of goods and services an economy can produce if there is no scarcity.

B

the various combinations of two goods an economy is capable of producing when some resources are left unemployed.

C

the maximum combinations of two goods that can be produced in an economy using all resources fully and efficiently.

D

the price at which the trade-off between two goods is balanced in a free market.

Markscheme

1.1 Economic methodology and the economic problem Questions

  1. A Level
  2. /Economics
  3. /1.1 Economic methodology and the economic problem

123 exam-style questions on AQA A Level Economics 1.1 Economic methodology and the economic problem, covering 1.1.1 Economic methodology, 1.1.2 The nature and purpose of economic activity, 1.1.3 Economic resources, 1.1.4 Scarcity, choice and the allocation of resources, and 1.1.5 Production possibility diagrams. Each one has a worked solution and a mark scheme showing where the marks go.

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