Skip to content

Course home

1.5.1 nature and meaning of a production possibility curve (PPC)

Card 1 of 24

Why can an economy not produce unlimited quantities of every good at once?

A

Choice means consumers have preferences, so unlimited quantities of every good cannot be produced simultaneously.

B

Productive efficiency means output is maximised, so unlimited quantities of every good cannot be produced simultaneously.

C

Scarcity means resources are limited, so unlimited quantities of every good cannot be produced simultaneously.

D

Demand means firms face competition, so unlimited quantities of every good cannot be produced simultaneously.

Card 1 of 24

1.5.1 nature and meaning of a production possibility curve (PPC) Flashcards

  1. Intl A Level
  2. /Economics
  3. /1.5.1 nature and meaning of a production possibility curve (PPC)

24 flashcards on CIE Intl A Level Economics 1.5.1 nature and meaning of a production possibility curve (PPC): the key terms and definitions you need to recall.

Flashcards