curve that shows various combinations of two goods that a country can produce when all of the country’s resources are fully employed and used in efficient manner: Select one: a) Supply Curve b) Budget Line c) Production Possibility Frontier d) Demand Curve e) None of the options are correct

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A curve that shows various combinations of two goods that a country can produce when all of the country’s resources are fully employed and used in efficient manner:

Select one:

a) Supply Curve

b) Budget Line

c) Production Possibility Frontier

d) Demand Curve

e) None of the options are correct 

Expert Solution
Step 1 Economics

Economics is a social science which deals with efficient allocation of resources because resources are scarce and human wants are unlimited.

Two branches of economics are:

1. Microeconomics

2. Macroeconomics 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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