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1.1 Nature of economics

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Question 66

Using the diagram below, explain the impact on economic efficiency of producing at point K.

A Production Possibility Frontier (PPF) graph. The y-axis is labeled 'Healthcare Services' and the x-axis is labeled 'Education Services'. A downward-sloping, concave PPF curve shows the boundary of maximum production capacity. Point J lies directly on the curve, Point K lies inside (underneath) the PPF curve, and Point L lies outside (to the right of) the PPF curve.

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1.1 Nature of economics Questions

  1. A Level
  2. /Economics
  3. /1.1 Nature of economics