Asked by Zahra Al-Radwan on Jun 30, 2024
Verified
Each point on a production possibilities frontier requires full employment of resources.
Production Possibilities Frontier
A curve that shows the different combinations of various goods that a country can produce given certain resources and technology.
Full Employment
Employment level when there is no cyclical unemployment.
- Understand the crucial role of specialization in enhancing productivity.
Verified Answer
ZK
Zybrea KnightJul 04, 2024
Final Answer :
True
Explanation :
The production possibilities frontier represents the maximum combination of goods and services that an economy can produce using all its resources efficiently, which means that each point on it indicates full employment of resources.
Learning Objectives
- Understand the crucial role of specialization in enhancing productivity.