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1.1 Economic methodology and the economic problem

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Question 48

The diagram below shows a production possibility frontier (PPF) for a regional economy that produces Green Energy (GGG, in GWh) and Industrial Steel (SSS, in kt).

Production Possibility Frontier (PPF) showing Green Energy and Industrial Steel

Which point corresponds to a situation where the economy has underutilised or unemployed resources, meaning it can increase the production of Green Energy without incurring any opportunity cost (i.e., without reducing the production of Industrial Steel)?

Point Q

Point R

Point P

Point T

1.1 Economic methodology and the economic problem Questions

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